The NFIB Small Business Optimism Index declined two points in September to 98.8, according to the National Federation of Independent Business. The drop marked the first decline in three months, though the index remains above the survey’s 52-year average of 98. The uncertainty index rose seven points from August to 100, the fourth-highest reading in more than 51 years.
Supply chain and inflation issues stood out as a key problem in the report, NFIB said. The net percent of owners raising average selling prices rose a seasonally adjusted three points from August to a net 24%. A net 31% plan to increase prices over the next three months, up five points from August.
Fourteen percent of owners reported that inflation was their single most important problem in operating their business, up three points from August.
