We've seen some encouraging signs from consumer confidence in recent months, but that hasn't spread to the people who sell them their goods and services. According to a new Gallup survey, America's small business owners now expect to spend less money on their businesses over the next 12 months. The net spending index is at -14, down from -1 in July.
The survey found that just 20 percent of small business owners expect to increase capital spending over the next year. Meanwhile, 34 percent of small business owners think they'll reduce their capital expenditures over the same time frame. That's the highest that figure has been in more than two years.
Looking backward, the picture looks the same. The same survey asked those small business owners about their expenditures over the past 12 months. Over that time frame, 40 percent of those owners decreased expenditures, and only 18 percent increased them.
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