The U.S. economy is low now – inflation, interest rate
Amanda Umpierrez 23, Financial services reporter, degree in journalism and government and politics at St. John’s University, “SMB Employers and Employees are Uneasy About Market Volatility,” June 8, 2023. https://401kspecialistmag.com/smb-employers-and-employees-are-uneasy-about-market-volatility/, KPR
Just-released research from Nationwide Retirement Institute, which surveyed 400 U.S. small business owners and 400 midsize business owners, found two-thirds of owners expect a recession within the next six months, with 72% of that number believing it will be similar or worse than the Great Recession in 2008.
Overall morale in the U.S. economy is low, Nationwide saw, with just 19% of small business owners and 39% of midsize owners rating the country’s economy positively. Additionally, close to two-thirds (64%) of small business owners and half of midsize business owners pointed to inflation and rising prices as the most significant challenge facing their business within the next six months. Currently, rising interest rates are at 30% for mid-market-size business owners and 31% for small business owners, up 11 percentage points and down one point from last year.