It marks the 24th straight month, or two-straight years, when the index was below the 50-year average of 98, NFIB said. Despite the mild improvement, small-business owners remain pessimistic about economic prospects this year, according to NFIB Chief Economist Bill Dunkelberg. "Inflation and labor quality have consistently been a tough complication for small business owners, and they are not convinced that it will get better in 2024," he added. One-year inflation expectations fell to 3% in December, from 3.4% in November's survey, it said Monday. Meanwhile, the index of small business owners expecting better business conditions over the next six months improved six points in December, albeit to a still-net negative 36%, NFIB said.

Source: Wall Street Journal January 09, 2024 11:17 UTC