Ugly number from the NFIB: The latest Small Business Optimism survey collapsed from 94.4 last month to 91.4 this month.
That’s well below the 93.3 that was expected.
The Index of Small Business Optimism declined 3 points in June, falling to 91.4. The decline is significant, relinquished the gains achieved earlier this year and is a clear indication of slow growth. Only one of the 10 Index components improved, expected credit conditions. Nearly one-quarter of owners cite weak sales as their most important business problem (23%), followed by taxes (21%) and unreasonable regulations and red tape (19%).