The Biden White House has been struggling to get the American public to buy into its positive spin on the economy, which it has dubbed Bidenomics. On Tuesday, a survey of small businesses indicated why that is such a hard sell.
Small business owners have a “dismal” outlook about sales growth and business conditions, said Bill Dunkelberg, the chief economist at the National Federation of Independent Business. The NFIB’s small business optimism index came in at 91.9 for July, up 0.9 points from the prior month but well below the index’s 49-year average of 98.
This was the 19th consecutive month below the average reading.