Inflation remains top concern for U.S. small businesses: index-Xinhua

Inflation remains top concern for U.S. small businesses: index

Source: Xinhua| 2022-09-23 23:47:45|Editor:

NEW YORK, Sept. 23 (Xinhua) -- This quarter of the Ipsos/MetLife/U.S. Chamber of Commerce Small Business Index finds that the index, now at 62.1, has fallen by 4.7 points since last quarter (66.8), the largest drop since the index plummeted at the start of the pandemic.

"Increased pessimism around the broader economic environment and muted expectations for the future have contributed to this shift," said Ipsos' report about the index on Thursday.

"Perhaps bolstering this economic uncertainty is widespread concern over inflation, which continues to be seen as the single biggest challenge facing the small business community," it noted.

In fact, the report said, "a strong majority of small business owners believe the worst is still to come with regards to inflation."

These are the findings of an Ipsos poll conducted between July 21-Aug. 8. For this survey, a sample of 752 small business owners and operators age 18+ from the continental U.S. Alaska and Hawaii were interviewed online in English, according to the report.