The National Federation of Independent Business’ (NFIB) Small Business Optimism Index increased in July, but remained below its 48-year average, indicating the struggle facing the sector.
The July index came in at 89.9, up 0.4 points. But it was the sixth consecutive month that the index was below its 48-year average of 98, an Aug. 9 press release states.Thirty-seven percent of owners cited inflation as the single most important problem in operating their business. This is a three-point increase from June and the highest level since the fourth quarter of 1979.
