The US NFIB Small Business Optimism Index edged down to 97.8 in October 2026 from 97.9 in September, a new low since June and compared to forecasts of 97.7. “There was little change in optimism among small businesses in October as owners navigated enduring challenges, though there were some encouraging developments,” said NFIB Chief Economist Bill Dunkelberg. The percent of small business owners reporting the quality or availability of labor as their top operating problem decreased 1 point to 25%, making it the top reported issue for the fourth consecutive month. The second top issue was taxes, which rose notably from September. 21% of small business owners reported taxes as their single most important problem, the highest level since May 2021. On the other hand, expectations for better business conditions improved, after two months of deterioration. A net 8% of owners expect better business conditions over the next six months, up 2 points from September. source: National Federation of Independent Business

NFIB Business Optimism Index in the United States decreased to 97.80 points in October from 97.90 points in September of 2026. NFIB Business Optimism Index in the United States averaged 97.99 points from 1975 until 2026, reaching an all time high of 108.80 points in August of 2018 and a record low of 80.10 points in April of 1980. This page provides - United States Nfib Business Optimism Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Nfib Business Optimism Index - data, historical chart, forecasts and calendar of releases - was last updated on November of 2026.

NFIB Business Optimism Index in the United States decreased to 97.80 points in October from 97.90 points in September of 2026. NFIB Business Optimism Index in the United States is expected to be 95.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nfib Business Optimism Index is projected to trend around 100.00 points in 2027 and 102.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-10-13 10:00 AM
NFIB Business Optimism Index
Sep 97.9 98.7 98 96
2026-11-10 11:00 AM
NFIB Business Optimism Index
Oct 97.8 97.9 97.7 97.6
2026-12-08 11:00 AM
NFIB Business Optimism Index
Nov 97.8


Related Last Previous Unit Reference
NFIB Business Optimism Index 97.80 97.90 points Oct 2026


United States Nfib Business Optimism Index
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.
Actual Previous Highest Lowest Dates Unit Frequency
97.80 97.90 108.80 80.10 1975 - 2026 points Monthly
SA

News Stream
US Small Business Sentiment Continues to Deteriorate
The US NFIB Small Business Optimism Index edged down to 97.8 in October 2026 from 97.9 in September, a new low since June and compared to forecasts of 97.7. “There was little change in optimism among small businesses in October as owners navigated enduring challenges, though there were some encouraging developments,” said NFIB Chief Economist Bill Dunkelberg. The percent of small business owners reporting the quality or availability of labor as their top operating problem decreased 1 point to 25%, making it the top reported issue for the fourth consecutive month. The second top issue was taxes, which rose notably from September. 21% of small business owners reported taxes as their single most important problem, the highest level since May 2021. On the other hand, expectations for better business conditions improved, after two months of deterioration. A net 8% of owners expect better business conditions over the next six months, up 2 points from September.
2026-11-10
US Small Business Sentiment Deteriorates Further
The US NFIB Small Business Optimism Index fell to 97.9 in September 2026, the lowest in three months, from 98.7 in August and roughly in line with forecasts of 98. Of the 10 Index components, three rose, six fell, and one stayed unchanged. The Index declined mainly as businesses became less optimistic about future conditions and fewer firms considered it a good time to expand. Reports of labor quality or availability as owners’ single most important problem rose 3 points to 26%, making it the top reported issue for the third consecutive month. The second top issue was inflation, with 20% of owners reporting it as their single most important problem, up 4 points from August. "Small business owners are proceeding with caution as they interpret how rising costs, interest rates, and the difficulty in finding qualified employees are impacting their business”, said NFIB Chief Economist Bill Dunkelberg.
2026-10-13
US Small Business Sentiment Deteriorates
The US NFIB Small Business Optimism Index fell to 98.7 in August 2026 from 99.8 in July and below forecasts of 99.3. Actual sales worsened, with a net negative 9% of owners reporting higher nominal sales in the past three months, the lowest since November 2025. Reports of inflation as the single most important problem increased to 16%, now tying with taxes as the second top small business issue. Reports of “labor quality or availability” and “labor costs” as owners’ single most important problem eased, with “labor costs” dropping to its lowest level since March 2021. In addition, expectations for better business conditions deteriorated. “Uncertainty remains elevated among small business owners as they face a mixed set of challenges with weakened sales, supply chain disruptions, and inflation pressures. While expectations for the overall economy dimmed, Main Street owners remain largely positive in the health of their own businesses”, said NFIB Chief Economist Bill Dunkelberg
2026-09-08