Small business optimism was flat in October, with the National Federation of Independent Business' monthly Small Business Optimism index published Tuesday remaining at 96.1.
"The October NFIB survey gave no indication of a resurgence in growth in the small business sector with the Index remaining below the 42 year average of 98," said NFIB Chief Economist William Dunkelberg in a release. "The labor market components might have held at historically strong levels but this time owners reported no net growth in employment, which is a significant drop from reports in the previous four months."
While five of the tem indices that make up the index grew slightly, three declined and two were flat, the group said.
The index suggests economic growth of between 2% and 2.5%.
Only 2% of respondents said they raised prices in the month.
