“The NFIB is out with its latest survey of small business optimism, and the numbers are very bad. In fact, the firm’s chief economy specifically said “Something bad happened in November” and that it wasn’t just hurricane Sandy.
Here’s the number.
The NFIB Small Business Optimism Index dropped 5.6 points in November, bottoming out at 87.5. The two major events in November were the national elections and Hurricane Sandy, which devastated parts of the East Coast. To disentangle these, the results for the states impacted by Sandy were excluded from the computation for comparison. When separating the hurricane-impacted states from the remainder, the data makes clear that the election was the primary cause of the decline in owner optimism.
“Something bad happened in November….”
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