United States NFIB Business Optimism Index

Last Release

Jul 31, 2025

Actual

100.3

Units In

Points

98.6

Frequency

Monthly

Next Release

Sep 09, 2025

Time to Release

26 Days 10 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 US NFIB Small Business Optimism Index rose to 100.3 in July 2025, the highest in five months, from 98.6 in June, beating expectations of 98.6 and remaining above its 52-year average of 98. "Optimism rose slightly in July with owners reporting more positive expectations on business conditions and expansion opportunities. While uncertainty is still high, the next six months will hopefully offer business owners more clarity, especially as owners see the results of Congress making the 20% Small Business Deduction permanent and the final shape of trade policy. Meanwhile, labor quality has become the top issue on Main Street again", according to NFIB Chief Economist Bill Dunkelberg. There was a notable improvement in overall business health and the net percent of owners expecting better business conditions rose to 36%. Also, 16% reported that it is a good time to expand their business and 11% reported that inflation was their single most important problem in operating their business.