Small business optimism dipped slightly during November. The dip is somewhat surprising given recent modest improvements in consumer confidence and initial signs that the holiday shopping season is shaping up to be stronger than last year.
However, this is just one month's data and does not break the recovering trend. It could likely be a temporary breather after a fairly strong upward trend since March.
For example, though the index fell 0.8 points in November, it is still 7.3 points above March's bottom.
Still, the index has been below 90 for six quarters now, which is well below other recessions (even the deep 81-82 downturn).
This indicates just how deep this recession remains.