Washington, DC, United States (4E) – Small business confidence in the U.S. slightly fell flat in September, according to a report released Tuesday.
The National Federation of Independent Business (NFIB) small-business optimism index dropped to 93.9 in September from a revised up reading of 94.1 in the previous month that was initially estimated at 94.0. The August revision reflected data processing errors.
The NFIB said that the March data was included into the August seasonal adjustments, which resulted to a few anomalous changes in seasonally sensitive index components. Some of the corrections include the August data on new job creation and sharp downward revision in sales expectations, while there was a much higher revision of the earnings trends and business-condition expectations.
Yet, the report said that the news was not upbeat even after correction. It also said that the anticipated “government shutdown” weighed on the economic outlook.
The real sales expectations jumped three points to 8 percent but expected business conditions index fell eight percentage points to minus 10 percent. The earnings-trend index is lower by two points to minus 23 percent.
The labor indexes showed minimal changes in either job creation or layoffs among small businesses. The job creation index dropped one point to 9 percent while the NFIB’s subindex measuring hard-to-fill job openings climbed one point to 20 percent.