A seasonally adjusted net 15% of business owners planned to create new jobs in the next three months, the highest reading of the year, up 3 percentage points (pp) from April’s reading. The percentage of owners thinking it’s a good time to expand was 4%, unchanged from the previous month. 42% of owners reported job openings they could not fill in the current period, up 2 pp from April.
A net negative 14% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down 1 pp from April. The net percent of owners raising average selling prices was 25%, unchanged from April. The net percent of owners expecting higher real sales volumes fell 1 pp to a net negative 13%. The frequency of reports of positive profit trends was a net negative 30% (seasonally adjusted), down 3 pp from April.
3% of owners reported that all their borrowing needs were not satisfied, unchanged from April. 29% reported all credit needs met (up 1 pp) and 58% said they were not interested in a loan (down 2 pp). A net 6% reported their last loan was harder to get than in previous attempts (down 2 pp).
Read the NFIB report.
