Small-business owners’ confidence in the overall economy is fading despite strength in their own operations, a sign the recovery’s gains may be slowing.
For August, the portion of small businesses reporting that the U.S. economy was improving fell to its lowest level since the government shutdown of 2013, according to a monthly survey of small firms by The Wall Street Journal and Vistage International Inc. The survey was completed in mid-August, before concerns about an economic slowdown in China triggered a selloff across global markets.
Tim Touchette, president of Attache Corporate Housing, which rents furnished accommodations to corporate and government clients, says his concerns began growing after more of his corporate clients began booking shorter stays. Unsure what is driving the change, Mr. Touchette worries that it could become a drag on revenue growth at his 10-person company, based in Washington, D.C.
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