The growing evidence of a slowdown in manufacturing is likely contributing to the dip in small business optimism that began early in the year.
Reports this month from the government and an industry group point to a drop in manufacturing activity. While the manufacturing sector is a relatively small part of the gross domestic product — the government has estimated it at 11.4 percent in the third quarter of last year — most manufacturers are small businesses as are service companies that do business with them.
Surveys released this year by the U.S. Chamber of Commerce and MetLife; by researchers at Pepperdine University's Graziadio Business School and Dun & Bradstreet Corp. and by Wells Fargo and Gallup, have all shown weakening confidence in the economy among small business owners since the start of 2019.
Read the full story, "Slower manufacturing likely drag on small business optimism," at foxnews.com.