The National Federation of Independent Business (NFIB) is out with its small and independent business report for the month of January. You know it has some caution because it is titled “Small Business Confidence in a Lull” this morning. It noted, “Government reports seem upbeat, but Main Street is not so confident.”
The index rose by 0.1% to 93.9 for the month of January, which up month over month and it marks five consecutive months of improvement, but the reading still remains under the levels from a year ago in January and February.
Effectively, it was a nothing bad report. NFIB Chief Economist Bill Dunkelberg was quoted as saying, “The most positive statement that can be made about January’s reading is that the Index did not go down; a change of 0.1 points is essentially no change and it is hardly indicative of a surge in economic activity.”
The NFIB also noted that Congress has not passed a budget for over 1,000 days, that there is no spending discipline or budgetary priorities, and no path to fiscal sanity in Washington.
It also talked about how the U.S. debt is now larger than our GDP, and headed in the wrong direction.
JON C. OGG
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