by Bill McBride on 3/09/2010 08:57:00 AM
Tuesday, March 09, 2010
From Rex Nutting at MarketWatch: Small business optimism falls in Feb., NFIB says
An index measuring small-business optimism fell 1.3 points to 88.0 in February, erasing January's gain, according to a monthly survey released Tuesday by the National Association of Independent businesses.And a few excerpts from the report:
The National Federation of Independent Business Index of Small Business Optimism lost 1.3 points in February, falling back to the December reading of 88.0 (1986=100), only seven points higher than the survey’s second lowest reading reached in March 2009 (the lowest reading was 80.1 in 1980:2). The persistence of Index readings below 90 is unprecedented in survey history.And the number one problem continues to be poor sales.
Regular borrowers (accessing capital markets at least once a quarter) continued to report difficulties in arranging credit. A net 12 percent reported loans harder to get than in their last attempt, a two point improvement from January. Thirty-four (34) percent reported regular borrowing, up two points from January but still historically very low. Weak plans to make capital expenditures, to add to inventory and expand operations also make it clear that many potentially good borrowers are simply on the sidelines.
Posted by Bill McBride on 3/09/2010 08:57:00 AM