“Although expected sales and expected business conditions posted large declines, it was from historically high levels and this still left the overall Index reading among the 20 best in survey history,” said NFIB Chief Economist Bill Dunkelberg. Small business owners expecting better business conditions fell 11 points to a net 32 percent and expected sales fell to a net 20 percent, though both remain at historically high levels. Twenty-eight percent believe now is a good time to expand, down four points from February but continues a solid reading. Reports of improved earnings trends were the second best since 1987. Survey components include a net 20 percent of owners who are planning to create jobs, up two points from last month. State-specific data is unavailable, but NFIB State Director Jim Brown said, “Small business owners here are thankful that Washington is cutting taxes and reducing unnecessary regulations.” They’ve been so optimistic that they feel confident enough to raise wages and invest in their business, which grows the economy.” “This is the first time in 35 years where the fewest number of small business owners have told us that taxes are their number one business problem. “It has been a remarkable 16 months for small business optimism,” said NFIB President and CEO Juanita Duggan. Taxes as the number one problem has declined since November 2017, the month before the tax bill passed, from 22 percent to 13 percent in March. The 104.7 March reading, down from 107.6 in February, remains among the highest in survey history and for the first time since 1982, taxes received the fewest number of votes as the number one problem. The small business optimism index reached its 16th consecutive month in the top five percent of 45 years of survey readings, according to the NFIB Small Business Economic Trends survey, released today.
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