(The Center Square) – With nearly one in four small business owners (24%) pointing to inflation as their biggest issue, the National Federation of Independent Business reports optimism across the industry was again on the decline in Arizona last month, marking the 15th consecutive month figures fell below the 49-year average of 98.
For March, the NFIB’s Small Business Optimism Index fell by 0.8 percentage points. Less than half (47%) of small business owners are optimistic that conditions will improve over the next six months.
“Small business owners are cynical about future economic conditions,” NFIB Chief Economist Bill Dunkelberg said in a news release. “Hiring plans fell to their lowest level since May 2020, but strong consumer spending has kept Main Street alive and supported strong labor demand.”
