Small businesses aren't very positive on the economy these days, and the NFIB report emphasizes that.
"The U.S. economy faces hurricane force headwinds and the government is at the center of the storm, making an economic recovery very difficult."..
"The Index has been below 93 every month since January 2008 (30 months), and below 90 for 23 of those months, all readings typical of a weak or recession-mired economy. Seventy percent of the decline this month resulted from deterioration in the outlook for business conditions and expected real sales gains. Owners have no confidence that economic policies will fix the economy."
"Hiring and capital spending depend on expectations for growth in future sales, so the outlook for improved spending and hiring is not good," said Dunkelberg.
Small business owners continued to liquidate inventories and weak sales trends gave little reason to order new stock. A net-negative 21 percent of all owners reported gains in inventories (more firms cut stocks than added to them, seasonally adjusted), one point worse than May. Plans to add to inventories declined five points to net-negative 3 percent of all firms (seasonally adjusted).