PR – Discover’s Small Business Watch Sees Economic Confidence Index Plummet

After an upward tick in February, small business owners’ economic confidence took a sharp drop in March, casting the Discover Small Business Watch to its lowest point since its inception in August 2006. The monthly index in March was 77.8, a 13.1-point decrease from February, and nearly 40 points lower than a year earlier.

“While the passage of the economic stimulus plan last month and Fed rate cuts may have influenced February’s upturn, the mood is considerably darker now, said Sastry Rachakonda, director ofDiscover’s business credit card. “All of the Watch’s negative data points increased, causing the double-digit drop.”