SMALL BUSINESS SNAPSHOT
Washington, March 16, 2023
After another month of newly released economic data and surveys on the state of the country’s small businesses, one thing is abundantly clear: this economy is still not working for Main Street America. The Consumer Price Index (CPI) data released this month once again confirmed inflation continues to be stuck at unprecedentedly high levels, coming in at 6 percent. Equally concerning, core CPI, which excludes food and energy, and is used by economists to better measure inflationary trends, increased by the most in five months. According to small business owners, inflation remains the biggest issue facing their livelihoods and these economic trends do nothing to assuage these concerns. Worse, President Biden’s proposed budget doubles down on the administration’s failed tax and spend policies that gave us this current economic environment in the first place. Thankfully, with a Republican-led House, these massive Biden tax increases and proposed inflationary government spending will never see the light of day.
The below March 2023 Small Business Snapshot features numbers and updates to provide more insight into the current small business economy.
MAIN STREET MEASUREMENTS: