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After four months of increases, the confidence of small business owners in the economy declined in June.
According to the National Federation of Independent Business, the index of small business optimism posted a score of 103.3 in June, down 1.7 points from the previous month.
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The NFIB stated that levels of uncertainty had increased as expectations of sales growth and general economic conditions faded.
According to the report, inflationary pressures possibly caused by tariffs could lead some companies to increase their selling prices.
Overall, six components of the index fell in June, three improved and one remained unchanged.
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The survey results are based on the responses of 606 small business owners last month – showed that the net percentage of homeowners expecting an increase in sales volumes dropped by 6 points to 17 %, the lowest since September 2017, excluding the government closure early in the year.
The report noted that job creation had slowed in June.
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