Connect with us

Hi, what are you looking for?

Economy

Optimism about small businesses in the United States declined by the most since the end of 2022

Optimism about small businesses in the United States declined by the most since the end of 2022

A worker removes a vinyl record from a printing press at Third Man Pressing's manufacturing facility in Detroit. (Elon Paz/Bloomberg News)

[Stay on top of transportation news: Get TTNews in your inbox.]

U.S. small business optimism in January suffered its biggest drop in more than a year, due to deteriorating earnings and declining sales expectations, according to a report from the U.S. investment bank. National Federation of Independent Business.

Groups General indicator It fell two points to 89.9, the largest monthly decline since December 2022. The share of owners expecting real sales volumes to rise fell 12 percentage points, the most since mid-2022, compared to the previous month.

Additionally, a larger percentage of small business owners reported a decline in their profits over the past three months.

“Small business owners continue to make appropriate business adjustments in response to the ongoing economic challenges they face,” Bill DunkelbergNFIB's chief economist said in a statement.

“A more positive outlook for the future economy and economic policy would help stimulate long-term investment spending, but at the moment, owners’ views on the future are not supportive and financing costs are too high,” he said.

The share of landlords planning to boost hiring fell to the lowest level since May 2020. 39%, the smallest share in three years, had job openings they were unable to fill, with the overwhelming majority continuing to cite a shortage of qualified candidates.

Meanwhile, 15% of owners reported reducing sales prices, representing the largest share since August 2020.

While inflation is calming down and becoming less of a concern among businesses, a significant portion of owners still consider it the most important concern in running their business.

See also  The effect of a shortage of chips on toner powder in Canon printers

Want more news? Listen to the daily briefing below or go here for more information:

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Copyright © 2024 Campus Lately.