Sentiment among U.S. small businesses edged down in October as owners’ views of future economic conditions slumped amid continuing supply-chain and hiring challenges.
The National Federation of Independent Business optimism index slipped to 98.2 from 99.1, the lowest since March, the group said Tuesday. The group’s measure of business conditions over the next six months fell to the lowest since November 2012. The share of firms who said now is a good time to expand declined to an eight-month low as rising material and labor costs dampen profits.
