Small business optimism just hit an 11-year low. 'Will depressed small business owners depress the economy?'
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The National Federation of Independent Business's (NFIB) Small Business Optimism Index fell to 88.5 in March, the lowest level since December 2012. Small businesses employed 61.6 million Americans in 2023 and generate roughly 45% of U.S. economic activity. Small business owners are concerned about inflation, high labor and input costs, and difficulty finding talent. However, the details of the NFIB's survey suggest that the economy is running hot, not cooling rapidly. The net percentage of small business owners expecting higher sales volumes fell to a net negative 18% in March. Despite the pessimism, economist Ed Yardeni believes the U.S. will avoid a recession in 2024 and sees a 'Roaring 2020's' economy with fading inflation and new technologies boosting the economy and markets.

#SmallBusiness #Optimism #Economy #Inflation #LaborMarket

https://fortune.com/2024/04/10/small-business-optimism-low-inflation-recession-ed-yardeni/