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United States NFIB Business Optimism Index

Last Release
Sep 30, 2024
Actual
91.5
Units In
Points
Previous
91.2
Frequency
Monthly
Next Release
Nov 12, 2024
Time to Release
1 Months 2 Days 10 Hours
Highest
Lowest
Average
Date Range
Source
108.8
Aug 2018
80.1
Apr 1980
97.95 Points1975-2024National Federation of Independent Business
NFIB Small Business Optimism Index is a composite of ten seasonally adjusted components calculated based on the answers of around 620 NFIB members. This questions include: plans to increase employment, plans to make capital outlays, plans to increase inventories, expect economy to improve, expect real sales higher, current inventory, current job openings, expected credit conditions, now a good time to expand, and earnings trend.

Latest Updates

The NFIB Small Business Optimism Index in the US increased to 91.5 in September 2024 from 91.2 in August, missing forecasts of 91.7. This was the 33rd consecutive month below the 50-year average of 98. The Uncertainty Index rose 11 points to 103, the highest reading recorded. Fifty-one percent of owners reported capital outlays in the last six months, down five points from August. Meanwhile, the number of owners reporting inventory gains fell four points to a net negative 13% (seasonally adjusted), the lowest reading since June 2020. “Small business owners are feeling more uncertain than ever,” said NFIB Chief Economist Bill Dunkelberg. “Uncertainty makes owners hesitant to invest in capital spending and inventory, especially as inflation and financing costs continue to put pressure on their bottom lines. Although some hope lies ahead in the holiday sales season, many Main Street owners are left questioning whether future business conditions will improve.

United States NFIB Business Optimism Index History

Last 12 readings

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