Small-business index gains in April
A monthly index of small business economic indicators jumped 5.8 points in April, with a majority of business owners expecting the economy to improve over the next three to six months.
The percentage of small business owners who are optimistic about the economy jumped 24 points in the National Federation of Independent Business’ monthly survey. Sales expectations, which hit a record low in March, improved by 20 points. Scores for six other indicators also increased, enabling the index to rise to 86.8 — still far below 100, the level that reflects small business conditions in 1986.
NFIB Chief Economist William Dunkelberg cautioned “the improved numbers were still very low,” so “no immediate turnabout” is likely for the economy.
About 30 percent of small businesses reduced employment over the past three months, compared with 4 percent that increased the size of their work force.
“It appears that owners are not through with their labor-based cost cutting,” Dunkelberg said.
A net 14 percent of small-business owners reported that loans were harder to get, the highest reading since the recession of the early 1980s.
bizjournals.com
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