A seasonally adjusted net 17% of business owners planned to create new jobs in the next three months, down 1 percentage point (pp) from September. The percentage of owners thinking it’s a good time to expand was 6%, up 1 pp from the previous month. 43% of all owners reported job openings they could not fill in the current period, unchanged from September.
A net negative 17% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down 9 pp from September and the lowest reading since July 2020. The net percent of owners raising average selling prices increased 1 pp from September to a net 30% seasonally adjusted, still a very inflationary level. The net percentage of owners expecting higher real sales volumes improved 3 pp to a net negative 10%.
2% of owners reported that all their borrowing needs were not satisfied (unchanged). 23% reported all credit needs met (unchanged) and 64% said they were not interested in a loan (down 1 pp). A net 7% reported their last loan was harder to get than in previous attempts (down 1 pp).
Read the NFIB report.
