New Survey on Economic Sentiment of NYC Small Businesses

Survey findings and summary

Thumbtack and Bloomberg have announced the results of a new monthly survey of America’s small businesses.

“We are excited to be able to reveal this new survey, which will capture the sentiment of over ten thousand small service providers nationwide on a monthly basis,” said Jon Lieber, Chief Economist of Thumbtack. “Many of these businesses have few or no employees, and are often overlooked in other widely tracked business surveys. We hope by drawing attention to them we can offer new insights into what’s happening in a part of the American economy that is difficult to study.”

The inaugural version of the survey shows a slow and steady recovery among America’s smallest businesses:

• There was a 25 percent reduction in businesses citing “uncertain economic conditions” as their number one concern for the future.
• Business owners felt overwhelming optimistic about the future, as over 80 percent of them predicted their revenues would increase over the next 3 months and that financial conditions would be better as well.
• Good feelings were shared across the country as businesses in every state reported feeling “somewhat positive” about the economy in their area.
• Comparing the states to one another, the latest survey shows that businesses in Southern states reported feeling the most positive about the economy, and that businesses in the far West and Northeast were the most tempered in their positive views.
• Expectations for inflation were slightly elevated from one year ago, with small businesses on the whole feeling neutral in their outlook for how prices would change in the near future.

For more information about the survey or the methodology, please email Thumbtack’s Chief Economist Jon Lieber at jon.lieber@thumbtack.com.

To go on the webpage and get more information, please click here.

Source: thumbtack.com