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US Small-Business Optimism Drops on Outlook for Economy, Credit
Bloomberg
US Small-Business Optimism Drops on Outlook for Economy, Credit
Marien Lopez-Medina
Tue, October 10, 2023 at 6:00 AM EDT
(Bloomberg) -- US small-business optimism dropped to a four-month low in September, reflecting worsening expectations for the economy and credit conditions.
A National Federation of Independent Business index of sentiment fell by half a point to 90.8 last month, the group said Tuesday. A net 43% of small-business owners saw business conditions deteriorating in the next six months, the most since May.
Small firms were also increasingly pessimistic about credit availability. The share of survey respondents saying it was harder to get a loan compared to three months ago increased to 8% on net — the most since March, when Silicon Valley Bank collapsed.
The Federal Reserve has hiked interest rates to the highest level since the early 2000s to tame persistent inflation. Officials have reiterated the need to keep borrowing costs higher for longer, triggering a recent selloff in the bond market. ... Here’s what else small businesses had to say about credit conditions:
{snip}
US Small-Business Optimism Drops on Outlook for Economy, Credit
Marien Lopez-Medina
Tue, October 10, 2023 at 6:00 AM EDT
(Bloomberg) -- US small-business optimism dropped to a four-month low in September, reflecting worsening expectations for the economy and credit conditions.
A National Federation of Independent Business index of sentiment fell by half a point to 90.8 last month, the group said Tuesday. A net 43% of small-business owners saw business conditions deteriorating in the next six months, the most since May.
Small firms were also increasingly pessimistic about credit availability. The share of survey respondents saying it was harder to get a loan compared to three months ago increased to 8% on net — the most since March, when Silicon Valley Bank collapsed.
The Federal Reserve has hiked interest rates to the highest level since the early 2000s to tame persistent inflation. Officials have reiterated the need to keep borrowing costs higher for longer, triggering a recent selloff in the bond market. ... Here’s what else small businesses had to say about credit conditions:
{snip}