SmallBusinessNewz

The index's overall value isn't as bad as it could be, and actually, quite a few components are positive.  Still, the NFIB's Index of Small Business Optimism slipped yet again in July, hitting 88.2 and making for a less than great pattern.

The National Federation of Independent Business characterized this as "one of the longest strings of recession-level readings in the history of the survey."  The survey extends to the '70s at least, with the NFIB dating back to 1943, so that's saying something.

As for the component scores, plans to make capital expenditures dropped, as did current job openings, expected credit conditions, and earnings trends in comparison to June's statistics.  Which doesn't sound good.

This data is somewhat balanced, though, by people planning to increase their inventories, expecting higher retail sales, and marking now as a good time to expand in a general sense.  The Dow is up, too, today, by an encouraging 127 points so far.

We'll wait for next month's optimism numbers with fingers crossed.  As always, since no one's talking about a depression, it seems like the figures will have to rise sooner or later.