From Anthony Smith, state director for the National Federation of Independent Business (NFIB) in Oregon, on today’s release of NFIB’s monthly Small Business Economic Trends (SBET) report showing it falling below its 52-year average of for the second month in a row. April’s 95.9 reading came in under the 98.0 historic average.
“Right now, small business owners in Oregon are awaiting the outcome of next week’s Primary Election, which will determine whether or not they and their employees will be burdened with additional cost pressures in the form of increased fuel and payroll taxes.”
The NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB), not broken down by state.
From NFIB Chief Economist Bill Dunkelberg
“Inflationary pressures continue to be a challenge for Main Street. While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months.”
Highlights from the April SBET Include:
- The Employment Index fell in April, from 101.6 to 100.4. This is the second month in a row of decline. The current reading is now below the 2025 average of 101.2 but still slightly above the historical average of 100.0.
- In April, reports of both actual and planned price increases rose. The net percent of owners raising average selling prices rose 5 points from March to a net 30% (seasonally adjusted), well above its historical average of net 13%. Looking forward to the next three months, a net 27% (seasonally adjusted) plan to increase prices, up 3 points from March.
- The net percent of owners expecting better business conditions fell 7 points from March to a net 4% (seasonally adjusted). This was the fourth consecutive monthly decline in expected business conditions and the lowest level since October 2024.
- In April, 7% (seasonally adjusted) reported that it is a good time to expand their business, down 4 points from March and the lowest level since October 2024.
