Small business optimism was down slightly, as the National Federation of Independent Business' monthly Small Business Optimism index slid to 93.5 from 94.4, the group announced Tuesday.
The "tepid" number, NFIB said, erases "any hope of a revival in confidence among job creators."
Six of the index's ten components declined, two rose and two were flat. Job creation plans rose slightly, expectations for improved business conditions stayed negative.
"After two months of incremental but solid gains, the Index gave up in June. This appears par for the course, given that there is no reason for small employers to be more optimistic and lots of things to worry about," said NFIB chief economist Bill Dunkelberg. "Washington remains bogged down in scandals and confidence in government's ability to deal with our fundamental problems remains low. Economic growth was revised was revised down for the first quarter of the year and the outlook for the second quarter is not looking good. Nothing cheers up a small-business owner more than a customer, and they remain scarce and cautious while consumer spending remains weak and more owners are reporting negative sales trends than positive ones. It certainly doesn't help that the endless stream of delays and capitulations of certain provisions of the healthcare law adds to the uncertainty felt by owners. Until growth returns to the small-business half of the economy, it will be hard to generate meaningful economic growth and job creation."
