Fact of the Week

by Raymond J. Keating – National Small Business Week 2026 is May 3-9. Of course, SBE Council celebrates small business and entrepreneurship every day. We also commemorate the week that is set aside each year to recognize the contribution and importance of small businesses to the nation’s economic health and vibrancy. The Small Business Administration […]

by Raymond J. Keating – When inflation ignites, so much in the economy gets distorted, as we learned, for example, in the 1970s and very early 1980s, and during the recent pandemic and its aftermath, and now, once again, with the Iran war and tariffs. The latest example in the economic data comes via the […]

by Raymond J. Keating – The latest state employment and unemployment report from the U.S. Bureau of Labor Statistics showed that job growth was nonexistent across most of the nation in January of this year, and over the previous year. The BLS noted: “In January 2026, nonfarm payroll employment increased in 5 states, decreased in […]

by Raymond J. Keating – According to the latest report from the Federal Reserve, industrial production – that is, the physical output of the manufacturing, mining and utility sectors – declined by 0.5 percent in March, including a 0.1 decline in manufacturing output. Mining output declined by 1.2 percent in March, and utilities production was […]

by Raymond J. Keating – Yes, war in a key energy producing part of the world will drive up inflation. This isn’t exactly a great revelation. The question that no one really knows the answer to is: How high will inflation go and for how long? The latest Consumer Price Index report from the U.S. […]

by Raymond J. Keating –  The general news on durable goods in February was not good, according to the latest report from the U.S. Census Bureau – albeit with an important exception. Census noted that new orders for manufactured durable goods decreased by $4.4 billion, or 1.4 percent, to $315.5 billion in February. That followed […]

by Raymond J. Keating – Retail and food services sales increased by 0.6 percent in February, according to the latest report from the U.S. Census Bureau. That came after a decline of 0.1 percent in January, and flat sales in December. (See the following chart from the Census Bureau.) In February, notable declines came in […]

by Raymond J. Keating – Housing plays a big part in the U.S. economy, and in turn, small business is the dominant player when it comes to housing construction. In fact, based on the latest (2022) data from the U.S. Census Bureau: ● 92.1 percent of employer firms in the residential building construction sector have […]

by Raymond J. Keating –  The latest data on business applications from the U.S. Census Bureau for February 2026 point to declines in total business applications, which marked a reversal from January’s gains. However, these February declines don’t even put a dent in the positive story being told about the desire to start up one’s […]

by Raymond J. Keating – The latest Federal Reserve Beige Book offered a slightly grumpier perspective on the current economy than in the January report, although with some optimism looking ahead. As a reminder, the Beige Book’s take on the economy is based on information from Fed district bank and branch directors, and from interviews […]