Uncertainty Index at highest level since 2020 (Il Sole 24 Ore Radiocor) - Washington, 11 Jun - US small-business confidence reached the highest reading of the year in May at 90.5 with inflation still the top small business problem, the National Federation of Independent Business (NFIB) said.

The Uncertainty Index for the month rose nine points to 85, the highest reading since November 2020, as US presidential elections loom.

'The small business sector is responsible for the production of over 40% of GDP and employment, a crucial portion of the economy,' said NFIB chief economist Bill Dunkelberg.

'But for 29 consecutive months, small business owners have expressed historically low optimism and their views about future business conditions are at the worst levels seen in 50 years. Small business owners need relief as inflation has not eased much on Main Street.' Owners' plans to hire rose three points in May to a seasonally adjusted net 15%, the highest reading of the year, while, seasonally adjusted, a net 28% plan price hikes, up two points from April.

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(RADIOCOR) 11-06-24 14:33:47 (0391) 5 NNNN