United States NFIB Business Optimism Index

Last Release

Jan 31, 2025

Actual

102.8

Units In

Points

105.1

Frequency

Monthly

Next Release

Mar 11, 2025

Time to Release

26 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
108.8 Aug 2018	80.1 Apr 1980	97.97 Points	1975-2025	National 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 fell to 102.8 in January 2025 from 105.1 in December 2024 which was the highest since October 2018, and below forecasts of 104.6. "Overall, small business owners remain optimistic regarding future business conditions, but uncertainty is on the rise. Hiring challenges continue to frustrate Main Street owners as they struggle to find qualified workers to fill their many open positions. Meanwhile, fewer plan capital investments as they prepare for the months ahead", NFIB Chief Economist Bill Dunkelberg said. The net percent of owners expecting the economy to improve fell five points to a net 47%. 18% of owners reported that inflation was their single most important problem in operating their business, down two points from December and matching labor quality as the top issue. The net percent of owners raising average selling prices fell two points to a net 22%. 20% plan capital outlays in the next six months, down seven points.