Amid gloom about prospects for sales and economic growth during the coming six months, the Small Business Optimism Index in the US has declined 2.1 points to 89.8 in December 2022, which is the lowest level since June 2022. The National Federation of Independent Business (NIFB) stated that it was the 12th straight month that the index has remained below the 49-year average of 98. High inflation has been identified as the most crucial reason for the slump in sales and business sentiment. Small business owners expect further deterioration in sales and business conditions in the coming months triggering fear of recession in 2023.
