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The small pharmacy section in a New York grocery store.
The small pharmacy section in a New York grocery store.

Talia Lakritz/Business Insider

  • Confidence among US small business owners is at an 11-year low, according to NFIB.
  • High inflation, coupled with hiring woes and tight financial conditions, have dealt a blow to business. 
  • Economist Mohamed El-Erian said this week that the plight of companies points to a downturn. 

US small business owners' confidence slumped to its lowest level in 11 years in March amid escalating inflationary pressures and sluggish sales expectations, according to the National Federation of Independent Business.

Tags
economy, Markets, small-business, us-markets-and-economy, Recession, fed-rate-cuts, Inflation, small-business-owners, nfib, mohamed-el-erian, fed-inflation-mohamed-el-erian, Unemployment, job
Source
Small business sentiment is the lowest in over a decade as inflation proves sti…