posted by Trader No 1 on Jan 13
US SMALL BUSINESS CONFIDENCE fell in December, according to the National Federation of Business optimism index. The index fell -3% to 85.2 from a prior 87.8. That is a 28-year low. A majority of respondents to the survey reported having cut prices in the latest survey, the first time that has happened in nearly 6 years. The selling price index fell -6% after a zero reading in November. The plan to hire index also fell -6% after a -4% decline in November. Plan to increase inventory -4% vs -6%. Capital spending plans remain positive, though reduced, with that index up 17% in December vs 19% in November. Expect higher sales index -18% vs -14%. Expect better economy -13% vs -2%. This is about what one would expect, given deterioration in most business indicators.
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