Small business confidence dipped in August amid rising election uncertainty

Published On Sep 10, 2024, 11:36 AM

In August, small business confidence decreased as the National Federation of Independent Business (NFIB) reported a drop in its Small Business Optimism Index from 93.7 to 91.2. This decline follows a surge in July. Small business owners expressed concerns over high inflation and a challenging labor market, citing difficulties in hiring qualified workers. Additionally, expectations for sales and profit trends are pessimistic. The upcoming presidential election adds to the uncertainty, with many small business owners feeling apprehensive about future conditions.

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Given the decrease in small business confidence and ongoing challenges such as inflation and labor market issues, investors should expect volatility in sectors heavily reliant on small businesses. The election-related uncertainty may also impact market movement.

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