By Robert Hughes
The small-business-optimism index from the National Federation of Independent Business fell 1.8 points to 98.8 in July versus 100.6 in June (see top of first chart). The latest result is the fourth month below 100 in the last five months. The index had posted a run of 39 consecutive months above 100 between December 2016 and February 2020.
Details within the report suggest that small-business owners have become a bit more uncertain about the potential for recovery. Resurging COVID-19 cases, political turmoil, and persistent consumer apprehension are smothering hopes for a rapid