NFIB Survey slips, still within normal range

By Staff Reports
February 10, 2015

The National Federation of Independent's Small Business Optimism Survey for January slipped 2.5 points to 97.9 with seven components dropping, one unchanged, and two slightly increasing–disappointing, but still considered normal.

State-specific data isn't available, but NFIB/Kansas State Director Dan Murray said the national trends are reflected here. “What we're hearing from our members is that there’s still some uncertainty about the recovery,” he said.

NFIB Chief Economist Bill Dunkelberg said, “November and December readings were very strong, possibly from post-election euphoria. January’s decline was mostly due to owners being less optimistic about sales growth and business conditions, not spending and hiring plans.”

“Regulation interference and taxes trump the list of concerns for small businesses while inflation risks and credit availability and costs are at the bottom,” Dunkelberg said. “Only a net three percent of owners reported raising average selling prices.

“Even though there is a decline in optimism, the small business sector is operating in a somewhat normal zone,” he said. “The increase in the percent of owners reporting hard to fill job openings is good news.”

For a detailed summary and to download the full NFIB Small Business Economic Trends report (PDF), visit