Business Optimism Index Down Slightly in Sep.
JEFFERSON CITY - September was another month of low expectations and pessimism for small businesses across the country, according to the National Federation of Independent Business. The NFIB Small Business Optimism Index dipped slightly in Sep. losing 0.1 points and falling to 92.8.
Job creation plans were down six points in the index and job openings fell one point. Experts attribute the down numbers to uncertainty in the upcoming election.
"Small-business owners are telling us that the national political climate is more of a concern right now than the economy. They're spending only where necessary. They aren't hiring, expanding or ordering more inventories until the future becomes more certain," said state director of NFIB for Missouri Brad Jones, in a press release.
State-specific numbers aren't available, but elections are are affecting the numbers across the country.
"The election is just weeks away and essentially a horse-race, and its outcomes would have vastly divergent policy implications," said NFIB's chief economist William Dunkelberg in the same release. "Everyone is waiting to see what happens, especially small-business owners who have a lot at stake in the outcome."
The NFIB small business optimism index is a monthly survery of small business owners' plans and opinions. The report released Tuesday is based on 691 responses in the month of September.