Small Business Index Decreased 5.5 Points in February

The Experian Small Business Index™ decreased by 5.5 points in February to 48.8. Despite the decline, the index remains 3.4 points higher than a year ago and within its historical average range. The decrease occurred during a month of relatively soft employment data. The unemployment rate rose slightly to 4.4%, and payrolls declined by 92,000 jobs in February, following a gain of 126,000 in January. Wage growth remained strong, partially offsetting these trends. Inflation indicators were mixed: core and rent inflation were flat, while food and energy prices, and the producer price index increased.