The National Federation of Independent Business (NFIB) reported on Tuesday the Small Business Optimism Index decreased by 1.3 points to 101.8 in September, following a 1.6-point decline in August.

According to the report, the September decline in the headline index was mainly attributable to a further deterioration in the perceived environment for expansion and expected business conditions. Twenty-two percent of respondents said it was a good time to expand, down 4 points from August, while a net 9 percent expect better business conditions, down 3 points. In addition, net 17 percent of business owners said they plan to create new jobs, down 3 points from August. Meanwhile, current job creation, capital spending, and inventory investment, all were consistent with solid, but slower growth. Overall, seven of 10 index components declined and three were unchanged. 

“As small business owners continue to invest, expand, and try to hire, they’re doing so with less gusto than they did earlier in the year, thanks to the mixed signals they’re receiving from policymakers and politicians,” said NFIB President and CEO Juanita D. Duggan. “All indications are that owners are eager to do more, but they’re uncertain about what the future holds and can’t find workers to fill the jobs they have open.”