US businesses worried about economy

The report said its index of small business owners’ sentiment fell three points in June to 91.4 after edging lower in May.

The number of owners expecting business conditions to improve in six months fell 8 percentage points and the number expecting their sales to rise slid 5 percentage points, the NFIB said.

Nearly a quarter of those surveyed say their biggest problem is weak sales.

NFIB Chief Economist William Dunkelberg said this month’s survey was a real economic downer.

“The economy has definitely slowed; job growth will be far short of that needed to reduce the unemployment rate,” he said.

The NFIB said small businesses also are hesitant to expand because of high political uncertainty. With the results of the presidential and congressional elections four months away, owners do not know what to expect in terms of taxes and government regulations.

AGB/JR

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