{"id":84560,"date":"2023-11-14T18:35:47","date_gmt":"2023-11-14T23:35:47","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/small-business-sales-get-slammed\/"},"modified":"2023-11-14T18:35:49","modified_gmt":"2023-11-14T23:35:49","slug":"small-business-sales-get-slammed","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84560","title":{"rendered":"Small Business Sales Get Slammed"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<p>This morning&#8217;s release of small business sentiment from the NFIB showed optimism fell by less than expected, coming in at 90.7.<\/p>\n<p>That compares to 90.8 in September and leaves the index in the middle of the past several<span class=\"paywall-full-content invisible\"> months&#8217; range. Although that is not at a new low, current levels are near the lower end of the post-pandemic recession range.<\/span><\/p>\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/saupload_111423-NFIB-1.png\" alt=\"NFIB small business optimism\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption><\/figcaption><\/figure>\n<p class=\"paywall-full-content invisible\">Business outlook was unchanged at a historically low -43, albeit that is off the lows from June of last year. As small businesses remain pessimistic in their evaluation of the economy, there has been a significant deterioration in sales.<\/p>\n<p class=\"paywall-full-content invisible\">Although sales expectations have risen, observed sales changes are down to -17 which outside of April through July 2020 is the weakest reading since September 2010.<\/p>\n<p class=\"paywall-full-content invisible\">That has resulted in actual earnings changes also deteriorating, with current levels very close<span class=\"paywall-full-content no-summary-bullets invisible\"> to post-pandemic lows. In terms of prices, the index of higher realized prices ticked up to 30.<\/span><\/p>\n<figure class=\"regular-img-figure paywall-full-content invisible no-summary-bullets\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/saupload_111423-NFIB-2.png\" alt=\"NFIB small business optimism\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption><\/figcaption><\/figure>\n<p class=\"paywall-full-content invisible no-summary-bullets\">When surveyed on the most important reason for lower expected earnings, the highest share of respondents reported increased costs as the culprit.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Granted, that combines input costs with increases in other aspects like taxes and finances (i.e. interest rates).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">While moving higher, the share reporting increased costs as their biggest reason for lower earnings is still below levels from last fall.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">On the other hand, the share reporting sales volumes as the reason has been rising steadily to levels not seen since May 2021.<\/p>\n<figure class=\"regular-img-figure paywall-full-content invisible no-summary-bullets\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/saupload_111423-NFIB-3.png\" alt=\"Most important reason for lower earnings\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption><\/figcaption><\/figure>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In the table below, we show all categories of the report as well as their month-over-month change and how those readings rank as percentiles of all months in the survey&#8217;s history.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The headline number&#8217;s further decline, albeit marginal, still leaves it in the bottom decile of historical readings.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The bulk of the drop was thanks to the deterioration in actual earnings changes, but otherwise, breadth wasn&#8217;t too bad for the index&#8217;s inputs.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">That being said, the month-over-month drop in earnings changes does rank in the bottom 2% of all months on record, and other non-inputs to the headline number were more mixed.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Again, actual sales changes were notably weak and, like actual earnings changes, recorded a historic month-over-month decile. That also applied to credit conditions for regular borrowers, as interest rates remain elevated.<\/p>\n<figure class=\"regular-img-figure paywall-full-content invisible no-summary-bullets\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/saupload_111423-NFIB-4.png\" alt=\"NFIB small business optimism components\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption><\/figcaption><\/figure>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><em>Original Post<\/em><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><strong>Editor&#8217;s Note:<\/strong> The summary bullets for this article were chosen by Seeking Alpha editors.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4651795-small-business-sales-get-slammed?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This morning&#8217;s release of small business sentiment from the NFIB showed optimism fell by less than expected, coming in at 90.7. That compares to 90.8 in September and leaves the index in the middle of the past several months&#8217; range. Although that is not at a new low, current levels are near the lower end [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":84561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-84560","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small Business Sales Get Slammed | iFintechWorld<\/title>\n<meta name=\"description\" content=\"This morning&#039;s release of small business sentiment from the NFIB showed optimism fell by less than expected, coming in at 90.7. 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