Small Business Optimism Decreases in October

The NFIB Small Business Optimism Index decreased 0.9 point in October, measuring 98.2 The Uncertainty Index decreased 7 points to 67.

A seasonally adjusted net 26.0% of owners plan to create new jobs, unchanged from the previous month. The percent of owners thinking it’s a good time to expand was 10.0%, down 1.0% from the prior month. Forty-nine percent of respondents reported job openings they could not fill in the current period, a decrease of two points from September and historically very high.

A net negative 4% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down 7 points from September. The net percent of owners expecting higher real sales volumes declined by 2 points to a net 0.0%.

Two percent of owners reported that all their borrowing needs were not satisfied (unchanged). Twenty-three percent reported all credit needs met (up 3 points) and 63.0% said they were not interested in a loan (up 1 point). A net 2.0% reported their last loan was harder to get than in previous attempts (down 2 points).

Read the NFIB report.