INFLATION NATION: Small business sentiment hovers near historic low as prices soar
The Chateau on The Lake owner Buddy Foy Jr. discusses how small business and restaurants are struggling to hire employees in an inflationary climate on ‘Fox Business Tonight.’, with the most business owners since 1979 reporting that rising prices were their single most important problem, according to a new survey published on Tuesday.small business owners
The outlook is dark for many small businesses but starting to improve, with the percentage of owners expecting better business conditions over the next month, climbing nine points from June's record low. Expectations for better business conditions have deteriorated consecutively from January to June.
A notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Michigan, on April 2, 2020. In a possibly reassuring sign, the percentage of small business owners raising the price of goods to offset inflation decreased seven points in July to 56%. Still, while the decline is "significant, the net percent still raising prices is inflationary," the survey said.to move at the most rapid pace in decades to raise interest rates to tame consumer demand, raising fears on Wall Street of a slowdown in growth or even a potential recession.