The latest NFIB small business survey is out, and it shows a very small uptick in optimism.
But the head of the NFIB on CNBC sounds very gloomy. He notes that the optimism index is still below 90, signaling “recession, recession, recession” and that it basically comes down to this: small businesses aren’t seeing sales.
It’s as simple as that, really.
“There is no life in the job market.”
He’s also making some very interesting points about bank lending, and plans to cut taxes to small business. Basically he says it’s pointless because the sales aren’t there, so there’s just no reason to invest in anything.
This is definitely contrary to all the talk about how banks were choking off small businesses.
We’ll be back with more details when the full report is published.
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