Falling Profits Drag Down Small Business Confidence in October

Falling profits and lower sales enervated the tempers of small business owners in October.

The National Federation of Independent Business said Tuesday that its optimism index fell six-tenths of a point to 98.2. Five of the 10 components that make up the benchmark declined while four climbed.

Reports of rising profits fell sharply in October, down nine points from September to a net negative twenty-five percent after seasonal adjustments, making it the largest drag on the index. This was the biggest decline in the profits measure since the pandemic.

For those seeing profits shrink, the usual suspects lined up in order: weaker sales (33…

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