The NFIB Small Business Optimism Index decreased 0.1 of a point in November to 90.6

A seasonally adjusted net 18% of business owners planned to create new jobs in the next three months, up 1 percentage point (pp) from October. The percentage of owners thinking it’s a good time to expand was 8%, up 2 pp from the previous month. 40% of all owners reported job openings they could not fill in the current period, down 3 pp from October.

A net negative 17% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, unchanged from October and remaining the lowest reading since July 2020. The net percent of owners raising average selling prices decreased 5 pp from October to a net 25% seasonally adjusted. The net percentage of owners expecting higher real sales volumes improved 2% to a net negative 8%.

2% of owners reported that all their borrowing needs were not satisfied (unchanged). 25% reported all credit needs met (up 2 pp) and 63% said they were not interested in a loan (down 1 pp). A net 8% reported their last loan was harder to get than in previous attempts (up 1 pp).

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