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Downcast Small Business Owners Prepare for a Difficult Four Years

January 12, 2021 By Jeremy Jones, CFA

Vice President Joe Biden to deliver the keynote address at the Caribbean Energy Security Summit, at the U.S. Department of State in Washington, D.C., on January 26, 2015. [State Department photo/ Public Domain]

The NFIB’s measure of small business optimism shows that owners across America are not hopeful about the near-term future. Jeffrey Bartash reports for MSN:

The numbers: Small-business owners turned more pessimistic in December than they have been at any time since the onset of the coronavirus pandemic after a record new stage of the viral outbreak and Democratic electoral victories that promise a potentially dramatic shift in economic policy in Washington.

The closely followed optimism index compiled by the National Federation of Independent Business fell by 5.5 points to 95.9 last month, marking its lowest level since last May.

“This month’s drop in small-business optimism is historically very large, and most of the decline was due to the outlook of sales and business conditions in 2021,” said NFIB chief economist Bill Dunkelberg.

Just two months ago, the index topped 104 as it returned near a pre-crisis high.

More firms also downgraded their sales forecasts for the next three months.

The NFIB is the nation’s largest small-business lobbying group.

Read more here.

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Jeremy Jones, CFA
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Richard C. Young & Co., Ltd. was ranked #10 in CNBC's 2019 Financial Advisor Top 100. Jeremy is also a contributing editor of youngresearch.com.
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