The NFIB Small Business Optimism Index fell 0.2 points in April to 104.5, the third straight month of declining optimism, according to the NFIB Small Business Economic Trends Report.
Three of the components declined, and two were unchanged. Nearly all of the slight decline was attributable to an eight-point plunge in expected business conditions. NFIB said "Most of the data were collected immediately after Congress failed to repeal and replace Obamacare."
“Small business owners were measurably shaken when Congress failed to address one of their most important concerns,” said NFIB President and CEO Juanita Duggan. “Obamacare has crushed small businesses. Small business owners expected the White House and Congress to address that problem. Their failure to do so caused volatility in the Optimism Index.”
“Expected business conditions is the most volatile component of the Index,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners want Congress and the White House to address the high cost of health care, which has been their top concern for more than 30 years. When that effort failed in March, expectations for better business conditions collapsed.”