Nine of the 10 indicators the federation tracks dropped, with businesses showing less confidence about everything from credit conditions to hiring plans.
The drop in the index to a reading of 92.5 from February’s 94.3 follows six months of gains. The index hit 81 in April 2009, just after the stock market hit bottom during the recession, according to sources.
The economy continues to affect the business owners and makes them more pessimistic.
“More people are complaining about inflation, which usually means energy prices,” said NFIB Chief Economist William Dunkelberg.
“It’s getting to be an old story,” Dunkelberg said. “We need consumers to get excited, so they’ll spend money, and then we’ll hire.”Tags: money