Economic Buzz: US small business confidence weakens September

Small business morale in the U.S. eroded for the first time in three months in September as business struggle with rising inflation, weaker sales outlook and labor shortage, survey data from the National Federation of Independent Business showed on Tuesday.

The NFIB Small Business Optimism Index dropped 2.0 points to 98.8 in September. Economists had forecast a score of 100.5. The reading remained above the survey's 52-year average of 98.

The Uncertainty Index climbed 7 points to 100, which was the fourth highest reading in over 51 years, the NFIB said.

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