The National Federation of Independent Business’ (NFIB) Small Business Optimism Index remained steady in June, edging down 0.2 of a point to 98.6, slightly above the 51-year average of 98.
Key findings include:
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A net negative 5% (seasonally adjusted) of small business owners viewed current inventory stocks as “too low” in June, down six points from May;
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The net percent of owners expecting better business conditions fell three points from May to a net 22% (seasonally adjusted);
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The net percent of owners expecting higher real sales volumes fell three points from May to a net 7% (seasonally adjusted);
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Twenty-one percent (seasonally adjusted) plan capital outlays in the next six months, down one point from May;
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The percent of small business owners reporting labor quality as the single most important problem for business remained at 16%, unchanged from May;
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Eleven percent of owners reported that inflation was their single most important problem in operating their business, down three points from May and the lowest reading since September 2021; and
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Data on the overall health of respondents’ businesses showed substantial deterioration, with declines in the percentages reporting their business was in excellent or good health.
