NFIB small business index plummets on lack of confidence in economy
Six of 10 indicators point south, only two show improvement
The National Federation of Independent Businesses' small business survey doesn’t look good for June or bode well for the remainder of 2014.
Six of the NFIB's 10 indicators declined in June, driven largely by a dramatic drop in confidence in future business conditions.
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The pullback in the confidence index comes from those who don't expect the economy to improve. Declines are also seen in those who expect their sales to move higher and those who say now is a good time to expand.
After moving up more than five points over three months, the small business optimism index fell back 1.6 points in June to 95.0.
Only two indicators showed improvement: those who expect to hire and those who are expecting an increase in job openings.