US DATA: Debt impasse causes small-business confidence to tumble in
August, as the NFIB’s monthly Small-Business Optimism Index comes in at
88.1 vs 89.9 last month. The Index has now been in decline for a full
six months. Expectations for real sales gains and improved business
conditions account for most of the decline. NFIB says sales remain the
largest problem for small firms and the net percent of owners expecting
better business conditions in six months was a negative 26%, down 11
points from July. Over the next three months, 11% plan to increase
employment (up 1 point), and 12% plan to reduce their workforce (up 1
point), yielding a seasonally adjusted 5% of owners planning to create
new jobs, 3 point gain over July.