Economy Slows, For Small Business Too

WASHINGTON, D.C. - Overall economic growth slowed in the first quarter of 2007. Real gross domestic product grew at an annualized rate of 1.3 percent, down from 2.5 percent in the fourth quarter of 2006. Consumer and small business confidence remain at 2006 averages, which is less optimistic than the past few years. The National Federation of Independent Business survey shows this pessimism affecting some small business owners’ view of the next three months, with fewer planning to expand business or take on new workers.

For the full report, see Quarterly Indicators (pdf, 2 pgs) SBA Office of Advocacy