In NFIB’s (National Federation of Independent Businesses) small business survey of April 2023, the overall optimism index decreased by 1.1 points from March.
In terms of other business metrics, labor force issues and inflation concerns remained prominent. The difficulty in filling open positions is particularly acute in the manufacturing, construction and transportation sectors.
Digging deeper into the survey data, we find that the manufacturing sector remains more optimistic compared to other industries. Perhaps this optimism stems from the slow trend of bringing manufacturing back to the USA.
About C&C Machine
We are a small manufacturer; a precision machine shop. We are optimistic and business is currently doing very well. However, we do have concerns around labor force quality & availability, rising interest rates and the general economy.