U.S. minute business confidence declined further in February as lingering concerns in all directions sales growth and profits hurt capital spending and hiring layouts, a survey showed on Tuesday.
The National Federation of Independent Business (NFIB) disclosed its small business optimism index dropped one point to a reading of 92.9 conclusive month, with none of the index’s components showing an increase. The ratio decreased 1.3 percentage points in January.
“Spending and hiring plots weakened a bit as expectations for growth in real sales volumes fell. Earnings styles worsened a bit as owners continued to report widespread gains in worker compensation while keep the line on price increases,” the NFIB said in statement.