Overview

• The NFIB Small Business Optimism Index slipped 2.0 points to 98.8 in September, while the Uncertainty Index jumped seven points to 100, the fourth-highest reading in 51 years.
• Twenty-four percent of owners reported raising selling prices and 31% plan to do so in the next three months, with 14% naming inflation as their most pressing problem.
• Only 23% of respondents expect better business conditions over the next six months, more owners reported falling sales, and unsold inventories are building.
• Reports of supply chain disruptions climbed sharply, reaching 64% of firms, and hiring plans rose to their highest level since January.
• A lapse in federal funding has paused routine economic data and delayed the September jobs report, though September CPI is still scheduled for release next Friday to support Social Security’s cost-of-living calculation.