27959
US Small Business Confidence Edges Up
World Economy

US Small Business Confidence Edges Up

US small business confidence rose marginally in September as stock market volatility raised concerns about sales growth, suggesting the economy was expanding at a moderate pace.
The National Federation of Independent Business said on Tuesday its Small Business Optimism Index gained 0.2 point to 96.1 last month. It said that level was consistent with a 2.5% annualized growth rate, Reuters reported.
“Financial markets did not provide any encouragement to owners, instead providing volatility that only a trader could like. This produces uncertainty,” the NFIB said. Seven of the index’s 10 components eked out small gains last month, while the share of small business owners expecting stronger sales volumes in the next few months fell six points.
While there were minor declines in labor market indicators, they remained at historically strong levels and the NFIB said actual reported employment was “very” strong. The government reported earlier this month that the economy added 142,000 jobs in September after creating only 136,000 positions in August. Even as small business owners worried about sales growth, they were upbeat about business conditions over the next six months and profits. They also believed now was a good time to expand. There was a slight increase in the share of owners planning to increase inventory.
The survey continued to point to tame inflation pressures in the near term. Fifteen percent of small business owners reported reducing their average selling prices in the past three months, up one point from August. A net 15% planned to raise prices, unchanged from August.
Twenty-three percent of owners reported raising worker compensation, unchanged from August and 2 points below the expansion high reading reached in January and May. The share planning to increase compensation rose 3 points to 16%.

 

Short URL : https://goo.gl/ALhsbA
  1. https://goo.gl/euaOzc
  • https://goo.gl/X0rgo8
  • https://goo.gl/AU3RA7
  • https://goo.gl/0KavO3
  • https://goo.gl/qpb6Ve

You can also read ...

Venezuela Devalues Currency by 95 Percent
Venezuela devalued its currency by about 95% ahead of the Aug...
The average annual salary for K–12 public-school teachers is roughly $58,000, and they typically spend a sizable chunk  of that on classroom supplies integral to their jobs
Airbnb, the popular platform that lets people rent out their...
S&P, Moody’s Lower Turkey Ratings
Two major global ratings agencies lowered Turkey’s ratings Aug...
Nigeria CB Reports $91b FX Inflow in 2017
The Central Bank of Nigeria, said the aggregate foreign...
Russia’s largest electronics chain, M. Video, estimates that about a fifth of its products are bought with credit  or on installment plans as people are more confident about the future.
Russian consumers are borrowing like the boom times are back...
Argentina Says Poverty to Rise as Economy Slumps
More Argentines are likely living in poverty now compared with...
Egypt Keeps Rates Steady
Egypt’s central bank left its main interest rates unchanged,...
China Internet Stocks Fumble
A steep downturn in heavyweight Chinese internet stocks and...

Trending

Googleplus