Small businesses lose confidence in U.S. economy: WSJ

WASHINGTON, May 23 (Xinhua) -- Small business confidence in the U.S. economy has been on the decline amid rising inflation, supply-chain disruptions, a shortage of workers and rising interest rates, which "darken the outlook for entrepreneurs," according to an article published by The Wall Street Journal (WSJ) on Sunday.

Fifty-seven percent of small-business owners expect economic conditions in the U.S. to worsen in the next year, up from 42 percent in April and equal to the all-time low recorded in April 2020, according to a survey of more than 600 small businesses conducted in May for The Wall Street Journal by Vistage Worldwide Inc., an advisory firm.

The Journal report said the portion of small businesses that expects revenue to increase in the coming year fell to 61 percent, down from 79 percent in May 2020.

"It just feels like there are all of these factors that are out of our control, and it doesn't seem like there is a light at the end of the tunnel," Minnie Luong, owner of Chi Kitchen, a manufacturer of kimchi and other fermented Asian-flavored vegetables, was quoted as saying.