United States NFIB Business Optimism Index

Last Release

Feb 28, 2025

Actual

100.7

Units In

Points

102.8

Frequency

Monthly

Next Release

Apr 08, 2025

Time to Release

25 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
108.8 Aug 2018	80.1 Apr 1980	97.98 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 dropped 2.1 points from a month earlier to 100.7 in February 2025, marking the lowest level since October 2024, just before the election, and coming in below market expectations of 101. Additionally, the Uncertainty Index surged by 4.0 points to 104, reaching its second-highest level on record. Small business owners’ expectations for improved business conditions over the next six months declined, and the percentage viewing the current period as a good time to expand also decreased, though it remains well above fall 2024 levels. Inflation continues to be a major concern, ranking second behind the top issue, labor quality.