The August NFIB Small Business Optimism report was released today, September 10, 2024. The headline of the Economic Trends report is “Small Business Optimism Dips in August.”
The Index of Small Business Optimism decreased by 2.5 points to 91.2.
Here is an excerpt that I find particularly notable (but don’t necessarily agree with):
The NFIB Small Business Optimism Index fell by 2.5 points in August to 91.2, erasing all of July’s gain. This is the 32nd consecutive month below the 50-year average of 98. The Uncertainty Index rose to 92, its highest level since October 2020. Inflation remains the top issue among small business owners, with 24% of owners reporting it as their top small business operating issue, down one point from July.
Below is a chart of the NFIB Small Business Optimism chart, as seen in the full August 2024 NFIB Small Business Economic Trends (pdf) report:
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 5468.52 as this post is written
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