NFIB September report shows strong economy; record uncertainty at highest ever, capex plans drop to 19%.

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“Stellar NFIB Sep report showing an economy steaming ahead at full throttle.

Max uncertainty – highest on record, higher than during COVID

Ease of hiring – Sep major easing vs August completely at odds with NFP – As easy as Dec 19 (Smalls are largest private employers in US)

% planning capex spend down 5 points to just 19% – the average since 86 is 29%”