Small business optimism in the United States fell slightly in June, following the first increase in six months in May, as taxes topped the list of the biggest challenges for American firms.
Source: Sharecast
The National Federation of Independent Business on Tuesday reported that its Small Business Optimism Index fell just 0.2 points to 98.6 last month, more or less in line with analysts' expectations.
A net 22% of business owners said they expected business conditions to improve, down three percentage points over the month but still well above the historic average of +3%. The net percentage of those expecting higher real sales volumes also fell 3pp to 7%.
Meanwhile, 19% of owners reported taxes as their single most important problem, up 1pp from May and the highest percentage seen since July 2021.
Labour quality was also regarded as a major challenge, with 16% ranking this as their most important problem, unchanged over the month, while labour costs were the biggest pain point for 10% of owners, up 1pp from May.
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