Despite increased optimism among small business owners about hiring plans and the overall economy, the National Federation of Independent Business small business confidence index fell in July, marking the third straight monthly decline.
The NFIB index was 91.2 in July, slightly below its June reading of 91.4.
According to the survey, small business owners expect lower sales and earnings declines in the coming months.
“The real downer in this report is that small businesses do not see much hope for positive earnings,” said IHS Global Insight Senior Principal Economist Chris Christopher. “Looking ahead, small business optimism should remain in a depressed state of affairs until there is considerably more stable consumer spending growth and renewed confidence that the government can provide solutions to Main Street.”
