The National Federation of Independent Business (NFIB) Small Business Optimism Index fell 2.6 points to 85.2 in December 2008:
This is an aggregate measure of 10 indicators: outlook for expansion, earnings, sales, and hiring. Amazingly, the net percentage of small business owners planning to hire is -6%. That scrapes the bottom of the barrel and is analogous to the recession we saw back in the 1970’s (not shown on graph).
Small businesses are often been touted as the engine of the US economy. From this survey it is obvious that the engine is flat out junked. These numbers are as bad as we’ve ever seen them in modern history.
You can get more information and download the full report at the NFIB site.
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