A seasonally adjusted net 12% of business owners planned to create new jobs in the next three months, up 1 percentage point (pp) from March’s lowest level since May 2020. The percentage of owners thinking it’s a good time to expand was 4%, unchanged from the previous month. 40% of owners reported job openings they could not fill in the current period, up 3 pp from March’s lowest reading since January 2021.
A net negative 13% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down 3 pp from March. The net percent of owners raising average selling prices fell 3 pp from March to a net 25% seasonally adjusted. The net percent of owners expecting higher real sales volumes rose 6 pp to a net negative 12%. The frequency of reports of positive profit trends was a net negative 27% (seasonally adjusted), up 2 pp from March.
3% of owners reported that all their borrowing needs were not satisfied, up 1 pp from March. 28% reported all credit needs met (up 1 pp) and 60% said they were not interested in a loan (up 1 pp). A net 8% reported their last loan was harder to get than in previous attempts (unchanged).
Read the NFIB report.
