The Small Business Optimism Index for September was 98.8, the first decline in three months.
The Small Business Optimism Index for September was 98.8. This was the first decline in three months as the index fell 2.0 points from August, though it remains above its 52-year average of 98. Of the 10 Optimism Index components, two increased, five decreased, and three stayed the same.
A decline in those expecting better business conditions over the next six months and an increase in reports of excess inventory were the main drivers of the drop in the Optimism Index. As optimism declined in September, uncertainty rose.
The Uncertainty Index climbed 7 points from August to 100, the fourth-highest reading in over 51 years. An increase in owners’ uncertainty about the expansion outlook was the main driver of the rise in the Uncertainty Index.
In September, 32% (seasonally adjusted) of all owners reported job openings they could not fill in the current period, unchanged from August.
56% of small business owners reported capital outlays in the last six months, which is unchanged from August.