The monthly optimism index from the National Federation of Independent Business continues to defy its name.
The lobbying group's latest not-so-optimistic optimism index fell three points in June to 91.4 — erasing all the gains it picked up earlier this year. Plus, only one of the 10 index components improved, expected credit conditions, the NFIB says.
The problems and worries survey respondents cite the most are not new to Gulf Coast executives and entrepreneurs. The top three: weak sales, at 23%; taxes, 21%; and unreasonable regulations and red tape, 19%.
“All in all, this month's survey was a real economic downer,” NFIB Chief Economist William Dunkelberg says in a release. “The economy has definitely slowed; job growth will be far short of that needed to reduce the unemployment rate unless lots of unemployed leave the labor force — no consolation.”
Adds Dunkelberg: “With the Supreme Court's endorsement of the individual mandate as a tax in its health care decision, we will have to wait for July's survey to realize the effect it will have on small business confidence.”
Coffee Talk isn't exactly optimistic that survey will turn out positive.