Small Business Optimism Improves Slightly
The National Federation of Independent Business small business optimism index inched up 0.6 point in July to 94.1, the second highest reading this year.
Latest NewsThird Party Risk: Too Close for Comfort The State of the DC Voice Market ISM semiannual report presents a positive outlook for manufacturing and non-manufacturing in 2018 Rail labor agreements are reached, says National Railway Labor Conference Positive outlook for 2018 is in the cards for manufacturing and non-manufacturing sectors, says ISM More News
Latest ResourceThird Party Risk: Too Close for Comfort You’ve got a handle on many of the potential supply chain "disrupters" that can paralyze your business. But the real risk is embedded in areas you may have overlooked.
Small business optimism has held up relatively well for the past three months, said IHS Global Insight analysts.
In July, small business optimism inched up due to increased optimism on hiring intentions, good time to expand and higher sales. However, small businesses are more pessimistic on the economic outlook, easing of credit conditions, and higher selling prices.
“Interestingly, small business has had a seemingly consistent problem on filling job positions this year, but their plans on hiring have varied. This could be a problem of job matching or wage offers,” said Chris G. Christopher, Jr., IHS Director Consumer Economics.
He added that this report has some good news and some bad news. The bad news is that small business is more pessimistic on the U.S. economy. The good news is that small business intends to hire more people and expects higher sales.
“On balance, the good news outweighs the bad news since small business hires are extremely important to overall job growth and economic expansion,” said Christopher.
Other highlights contained in the report:
● The National Federation of Independent Business (NFIB) small business optimism index inched up 0.6 point in July to 94.1, the second highest reading this year.
● The index components for hiring intentions (up 2 points) and higher sales expectations (up 2 points) also moved up.
● The index components that took a hit in July were higher selling prices (down 4 points), expect a better economy (down 2 points), and easing of credit conditions (down 1 point).
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
Subscribe to Supply Chain Management Review Magazine!Subscribe today. Don't Miss Out!
Get in-depth coverage from industry experts with proven techniques for cutting supply chain costs and case studies in supply chain best practices.
Start Your Subscription Today!
Transportation Trends: The last mile, history repeating Economic Outlook: A Complex and Uneven Scenario for Global Supply Chains View More From this Issue