December 9, 2019

By Mary Miller
Contributing Editor, Main Street Monday

Main Street Monday – Main Street Optimism Levels Remain High

As economists and investors debate whether or not a recession looms on the horizon, small business owners remain cautiously optimistic.

“The small business people are at the end of the supply chain. If it’s a consumer-led recession, small businesses are the first to know,” says William Dunkelberg, chief economist with NFIB.

Three recent surveys indicate no sign of a recession. Rather, they predict a continued focus on the creation of jobs, capital spending, and inventory investment:

Additionally, the U.S. Chamber of Commerce reports that one in five small businesses surveyed say that they plan to increase hiring efforts over next year, which will keep unemployment rates at record low levels.

Of all survey results, small manufacturing businesses reported the lowest of optimism levels and future revenue projections. Independent manufacturers slipped from 48.3 in October to 48.1 in November, according to the Institute for Supply Management’s Factory Activity Index. However, small business investment plans continue to be reported as strong in the small business manufacturing industry.

U.S. Chamber of Commerce and MetLife’s Small Business Index
CNCB Small Business Confidence Index
NFIB Small Business Optimism Index
Institute for Supply Management’s Factory Activity Index

Related Topics:
Main Street Monday – Small Business Optimism Levels Dip Slightly, Remain Near Historically High Levels Says NFIB