(FOX BUSINESS) — Small business confidence dropped again in June as fears over white-hot inflation persisted, with the most business owners since 1980 reporting that rising prices were their single most important problem, according to a new survey published on Tuesday.
The National Federation of Independent Businesses, a Tennessee-based association of small business owners, said its Small Business Optimism Index fell to 89.5 last month, the sixth straight month of readings below the 48-year average of 98.
The outlook is increasingly dark for many small businesses, with the percentage of owners expecting better business conditions over the next six months falling to the lowest level recorded in the 48-year-old survey. Expectations for better business conditions have deteriorated consecutively over the past six months.
