Small Business Optimism Falls in July

The NFIB Small Business Optimism Index fell 1.8 points in July to 98.8, near the survey’s historical average.  Owners continue to manage their expectations of the future economic conditions as the pandemic is expected to continue.

A seasonally-adjusted net 18.0% of owners plan to create new jobs, down 2 points. The percent of owners thinking it’s a good time to expand fell 2 points to 11.0%. Thirty percent of respondents reported job openings they could not fill in the current period, down 2 points from June’s number.

A net negative 28.0% of all owners reported higher nominal sales in the past three months, up 3 points from June. The net percent of owners expecting higher real sales volumes fell 8 points to a net 5.0% of owners.

Three percent of owners reported in that their borrowing needs were not fully satisfied. Thirty-five percent reported all credit needs met (up 1 point) and 51.0% said they were not interested in a loan (down 3 points). A net 2.0% reported their last loan was harder to get than in previous attempts (down 1 points.

Read the NFIB report.