WASHINGTON (dpa-AFX) - In March, the U.S. Small Business sentiments took a downturn. Out of the 10 components, only two were up. Earnings trends were down 1 percent from the previous month.
For the month, the National Federation of Independent Businesses declined 104.7. Market analysts were looking for 107.0. In February, the index was at a high of 107.6.
According to the National Federation of Independent Businesses, the small businesses were finding taxes as a major hurdle.
The job market has been tigh,t and hence, the small business owners had to offer more for their workers. Compensation was raised by 33 percent of the business firms in March as surveyed by the National Federation of Independent Business.
Twenty percent of the surveyed said they are ready to increase employment. This index component is up 2 points from the prior month. Current job openings were 35 percent up one point from the prior month. Expected credit conditions were down 3 points. Twenty percent of the respondents expect higher real sales, down 8 points from February.
Copyright RTT News/dpa-AFX