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» Small-biz owners down on economy in March: NFIB
Small-biz owners down on economy in March: NFIB
April 14, 2015
MADISON, Wis. (4/15/15)--A measure of small-business owner confidence in the economy slipped in March, potentially signaling quieter levels of hiring and capital spending in the near term.
The National Federation of Independent Business' (NFIB) small-business optimism index dropped to 95.2 in March from 98 the prior month.
The Madison, Wis.-based small-business association said the reading was the lowest since June of last year, pushing the index below its long-term average (
The Wall Street Journal
Also dropping in March were the subindexes for plans to add jobs and to raise capital.
Payroll expansion dropped 2 percentage points to 10%, while capital outlays dropped 2 percentage points to 24%, which is "not a strong reading historically," the report said.
Further, only 10% of respondents said now is a good time to expand their business, a 3-point drop from February.
"Spending (by businesses) has not caught fire in spite of historically low interest rates," the report said (
). "There is too much uncertainty and expected growth is too soft."
Meanwhile, the subindex tracking business-condition expectations dropped six points to -7% for the month, while real sales expectations dropped 2 points to 13%.
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