Just out from the NFIB…
Small Business Optimism in April fell to 91.2 from 91.9 in the previous month, continuing an ongoing slide.
Officially, the survey was expecting 91.8.
This isn’t a huge surprise.
A growing gap is emerging between the large corporations and small businesses, even as expressed by the S&P 500 vs. the Russell 2000 (whose members are far bigger than those in the NFIB survey).
We posted this chart last week showing how the Russell was responding a lot more clearly to the weakening economy.
Just 16% of survey respondents plan to increase hiring, down 2%.