US small business sentiment deteriorates more than expected
By Michele Maatouk
Date: Tuesday 11 Dec 2018
(Sharecast News) - Small business sentiment in the US deteriorated more than expected in November, according to the National Federation of Independent Business.
The small business optimism index fell to 104.8 last month from 107.4 in October, missing expectations for a dip to 107.0.
"Small business owners are enthusiastic about the economy and have demonstrated their optimism by raising wages, creating new jobs, and investing in their businesses throughout 2018," said NFIB President and CEO Juanita D. Duggan.
"Overall, small business owners have shown a historic trend in optimism for their businesses and the economy and continue to be the driving force behind economic growth."
Ian Shepherdson, chief economist at Pantheon Macroeconomics, said: "Capex aside, this survey looks like a softening, but this is not an interest rate-driven end-of-the-cycle rollover; it has been triggered by the drop in stock prices, which in large part reflects the trade war with China.
"If that problem is solved, as we expect, the stock market will rebound, dragging the NFIB back up."
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