SmallBusinessNewz

Perhaps it's just the onset of Seasonal Affective Disorder, but the National Federation of Independent Business Index of Small Business Optimism did some backtracking in November.  Following October, the Index slid a not-inconsiderable 0.8 points.

Things went wrong in more than a couple of ways.  First, capital spending hit a record low, with reports of reduced worker compensation increasing.  Plans to raise prices also became a little less common, even as it apparently got tougher for small businesses to receive a loan.

Then - although this may not come as a surprise, considering all of the above warning signs - the most significant news is that earnings reports grew worse.

NFIB Chief Economist William Dunkelberg gave his take on the circumstances by stating, "The biggest problem continues to be a shortage of customers.  Apparently, owners can't find a good reason to be optimistic about the future of the economy or their personal future.  The legislative agenda in Washington is a major factor blunting consumer and owner optimism."

Hopefully the holidays - and all the shopping that usually occurs leading up to them - will provide a boost in time for the next optimism report.  One more important note: however bad November was, at least we're still 7.3 points above the Index's readout in March.