U.S. small-business confidence slid to a six-month low in December, according to a survey on Tuesday, which also showed that inflation and worker shortages remained major issues for firm owners.
The National Federation of Independent Business said its Small Business Optimism Index fell 2.1 points to 89.8 last month - the lowest since June - amid a decline in the share of owners who expected better business conditions over the next six months.
Thirty-two percent of owners reported that inflation was their single most important problem, unchanged from November and 5 points lower than July's reading, which was the highest since the fourth quarter of 1979. On net, about 43% of owners reported raising average selling prices, down 8 points from November and the lowest since May 2021.
While price pressures showed signs of easing as 2022 came to a close, Federal Reserve officials have yet to signal they are convinced the slowdown in inflation is anywhere near sufficient to allow them to stop raising interest rates in the near term.
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