U.S. small-business optimism index falls to 97.9

The U.S. small-business optimism index fell 0.8 points to 97.9 in September. The National Federation of Independent Business (NFIB) released the survey results on October 13.

The reading was slightly below its long-term average. NFIB puts the average over 52 years at 98.0. September’s result was the lowest in three months.

Inflation was the biggest problem for 20% of surveyed owners, compared with a historical average of 7%. However, labour quality or availability remained the most frequently cited business problem, the federation said.

The net share planning to raise prices in the next three months increased to 31% from 28% in August and July. This measures the difference between the shares planning increases and decreases, rather than the proportion of all businesses certain to raise prices.

The findings describe respondents’ assessments of business conditions and their plans. They do not establish that the planned price changes have already occurred, or independently determine the causes of inflation.