U.S. September NFIB survey - Weaker but remains in recent range

The index slipped on the outbreak of war with Iran, fully erased its losses after the Memorandum of Understanding eased risks, but has since stared to slip back again. It appears that the index would be looking healthy without the war.

The net prices index stands at 31 for a third straight month and the lack of a fresh acceleration comes as a relief. 31 is significantly above pre-war levels near 25 but below the recent high of 38 seen in June. Hiring plans were also unchanged, at 17, also remaining within the recent range.