“Small business optimism continues its winter hibernation with the latest Index dropping 2.7 points to 91.4, a reading that historically has been associated with recessions and periods of sub-par growth. The one highlight in the January survey, a surge in hiring plans, was crushed in February by the continued onslaught of a wintry recovery now in its 5th year.”– Bill Dunkelberg, NFIB Chief Economist
Another report points to the weather but also a fall in employment activity such as we saw also in the non/manufacturing PMI’s ISM’s over the last couple of weeks. Capex expectations lower, wages still subdued. Not a rosy picture being painted by SME’s.
Full report here