United States NFIB Business Optimism Index

Last Release

Nov 30, 2025

Actual

Units In

Points

98.2

Frequency

Monthly

Next Release

Jan 13, 2026

Time to Release

1 Months 2 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
108.8 Aug 2018	80.1 Apr 1980	97.99 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 rose to 99 in November 2025, the highest in 3 months, compared to 98.2 in October, and beating forecasts of 98.4. The net percent of owners expecting higher real sales volumes rose 9 points to a net 15%. Meanwhile, 21% of small business owners cited labor quality as their single most important problem, down 6 points from the previous month. When asked to evaluate the overall health of their business, 11% reported it as excellent (down 1 point), and 53% as good (up 2 points). Meanwhile, the net percent of owners raising average selling prices rose 13 points to a net 34%, the highest reading since March 2023. On the other hand, the net percent of owners expecting better business conditions fell 5 points to 15%. “Although optimism increased, small business owners are still frustrated by the lack of qualified workers. Despite this, more firms still plan to create new jobs in the near future”, according to NFIB Chief Economist Bill Dunkelberg