US small business confidence dropsApril 11th, 2012 - 3:24 am ICT by IANS
Washington, April 11 (IANS) US small business confidence in March fell slightly after rising for six straight months, a leading industry association said Tuesday.
The National Federation of Independent Business (NFIB) said its Small-Business Optimism Index decreased to 92.5 in March from a one-year high of 94.3 in February. Most notably, nine of 10 index components dropped last month.
The index gauging earning trends decreased four points to a net minus 23 percent, and the share of owners projecting higher sales, adjusted for inflation, dropped four points to a net 8 percent, Xinhua reported.
It also implied most of small business owners had no plan to create jobs and enhance inventory.
While still historically low, the latest increase is a sign that the recovery is likely to continue, noted the association, adding that gas prices spike would weigh heavy on small firms.
“The mood of owners is subdued, they just can’t seem to shake off the uncertainties out there,” said NFIB chief economist Bill Dunkelberg.
The March survey results ended what appeared to be steady, albeit slow, trend of improvement for the small-business sector of the economy, noted the association.
The small business industry, accounting for 99 percent of the overall companies, is the major drive of the US economy and holds half of American labour force.
- China's non-manufacturing sector slows in April (Lead) - May 03, 2012
- Japan's industrial output grows - May 31, 2012
- Wall Street gains on Apple, Fed's economic outlook - Apr 26, 2012
- US factory orders rose in July - Sep 01, 2011
- Infosys results help Sensex close 421 points higher - Oct 12, 2011
- Wall Street takes breather after Fed-fuelled rally (Lead) - Mar 28, 2012
- US stocks flat after Fed-fuelled rally - Mar 28, 2012
- Global garment factories leaving China - Mar 28, 2012
- US stocks fall - Mar 29, 2012
- South Korea's industrial output shrinks in October - Nov 30, 2011
- Mexico's imports of Chinese-made shoes surge - Mar 16, 2012
- Japan's factory output drops - Jul 30, 2012
- Sensex closes 244 points down, manages 1.8 percent in weekly gains - Sep 30, 2011
- Affordable housing hit badly in real estate slump (Comment) - Jul 15, 2012
- Canada's unemployment rate falls - Jul 07, 2012
Tags: american labour, business confidence, business industry, business optimism, business sector, chief economist, federation of independent business, four points, gas prices, index components, inflation, labour force, national federation of independent business, nfib, slow trend, small business owners, spike, survey results, uncertainties, xinhua