Continuing concerns about inflation led small business optimism to fall in February to its lowest level in nine months, according to a report published by the National Federation of Independent Businesses.
The report noted that the NFIB sentiment index decreased to 89.4 in February from 89.9 in January, marking the 26th consecutive month that the index stayed below its 50-year average of 98. Small business owners indicated inflation as their biggest concern, rising three points to 23%.
“While inflation pressures have eased since peaking in 2021, small business owners are still managing the elevated costs of higher prices and interest rates,” said Bill Dunkelberg, NFIB’s chief economist. “The labor market has also eased slightly as small business owners are having an easier time attracting and retaining employees.”
