Get More Customers Through Referrals – Surviving the Economic Downturn – Tactic #5
Retail sales in November fell short of expectations, down 0.6% from the previous month.
Manufacturing also slowed in November by 0.6%, as a reduction in output of cars and trucks offset other factory gains.
AAA reports the national average price for regular unleaded is $3.12/gallon, the lowest since July 2021.
Business owners remain pessimistic about the near term, according to the November Small Business Optimism Index, which rose 0.6 points in November to 91.9, but is still well below the 49-year average of 98.
Small businesses are taking yet another hit in the aftermath of COVID. Millions took on loans through the Small Business Administration’s Economic Injury Disaster Loan, or EIDL, program during the pandemic to help keep their doors open, and now the loan payments are beginning to kick in, at a time when the economy is struggling.
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