The NFIB's business optimism survey shows that small business confidence has reached its lowest level since 2012 due to concerns about inflation and rising input and labor costs.
The NFIB's business optimism survey showed a reading of 88.5, down nearly a point from February to the lowest since December 2012.
Small business confidence hit its lowest level in more than 11 years for March as proprietors worried that inflation is still very much a problem.Sign up for NBC San Diego newsletters. A quarter of all respondents cited inflation, and in particular higher input and labor costs, as their most pressing issue. A net 28% reported raising average selling prices for the month, according to seasonally adjusted data.
The consumer price index, a more widely watched figure by the public, will be released Wednesday and is expected to show a 3.4% headline rate and 3.7% on core. Fed policymakers target 2% annual inflation.
Small Business Optimism Survey Inflation Labor Costs Economic Headwinds
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