The NFIB Small Business Optimism Index in the US fell to 95.8 points in March 2026, the lowest since April 2025 from 98.8 in February and below forecast of 98.6. The reading is now below its 52-year average of 98, as "the dramatic spike in oil prices has spooked consumers and owners alike. Small business owners are having to absorb those higher input costs and pass them along to their customers”, said NFIB Chief Economist Bill Dunkelberg. Also, the Uncertainty Index rose 4 points to 92, well above its historical average of 68. The frequency of reports of positive profit trends fell 11 points to a net -25% and the net % of owners expecting better business conditions fell 7 points to a net 11%, the third consecutive monthly decline and the lowest level since October 2024. On the other hand, “the 20% Small Business Deduction and other supportive small business tax provisions in the Working Families Tax Cut Act have had many positives for small business owners”, Bill Dunkelberg added. source: National Federation of Independent Business

NFIB Business Optimism Index in the United States decreased to 95.80 points in March from 98.80 points in February 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 April of 2026.

NFIB Business Optimism Index in the United States decreased to 95.80 points in March from 98.80 points in February of 2026. NFIB Business Optimism Index in the United States is expected to be 96.00 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 99.00 points in 2027 and 102.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-10 10:00 AM
NFIB Business Optimism Index
Feb 98.8 99.3 99.7 99.1
2026-04-14 10:00 AM
NFIB Business Optimism Index
Mar 95.8 98.8 98.6 97
2026-05-12 10:00 AM
NFIB Business Optimism Index
Apr 95.8


Related Last Previous Unit Reference
NFIB Business Optimism Index 95.80 98.80 points Mar 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
95.80 98.80 108.80 80.10 1975 - 2026 points Monthly
SA

News Stream
US Small Business Optimism Lowest in 11 Months
The NFIB Small Business Optimism Index in the US fell to 95.8 points in March 2026, the lowest since April 2025 from 98.8 in February and below forecast of 98.6. The reading is now below its 52-year average of 98, as "the dramatic spike in oil prices has spooked consumers and owners alike. Small business owners are having to absorb those higher input costs and pass them along to their customers”, said NFIB Chief Economist Bill Dunkelberg. Also, the Uncertainty Index rose 4 points to 92, well above its historical average of 68. The frequency of reports of positive profit trends fell 11 points to a net -25% and the net % of owners expecting better business conditions fell 7 points to a net 11%, the third consecutive monthly decline and the lowest level since October 2024. On the other hand, “the 20% Small Business Deduction and other supportive small business tax provisions in the Working Families Tax Cut Act have had many positives for small business owners”, Bill Dunkelberg added.
2026-04-14
US Small Business Optimism Down for 2nd Month
The NFIB Small Business Optimism Index in the US fell for a second month to 98.8 in February 2026 from 99.3 in January and below forecasts of 99.7. “Although optimism declined slightly, small businesses report feeling more certain as they look toward the coming months. High sales and increased profits made February a more positive month for many owners, but competition from large businesses is putting stress on Main Street firms as they navigate the current economic climate”, said NFIB Chief Economist Bill Dunkelberg. The net percent of owners expecting higher real sales volumes fell 8 points to a net 8%. Also, 15% of small business owners cited labor quality as their single most important problem, down 1 point from January. The last time labor quality, reported as the top issue, was this low was in April 2020. 59% of small business owners reported that supply chain disruptions affected their business to some extent, a decrease of 3 points from January.
2026-03-10
US Small Business Optimism Falls in January
The NFIB Small Business Optimism Index in the US fell to 99.3 in January 2026 from 99.5 in December 2025, compared to forecasts of 99.9. Of the 10 Optimism Index components, three increased and seven decreased. Expected real sales volume was the only component with substantial change, increasing by 6 points to a net 16%. In addition, 16% of small business owners cited labor quality as their single most important problem, down 3 points from December. Also, 13% reported the cost or availability of insurance as their single most important problem, up 4 points. The last time insurance reached this percentage was December 2018. 60% reported capital outlays in the last six months, up 4 points from December and the highest level since November 2023. "While GDP is rising, small businesses are still waiting for noticeable economic growth. Despite this, more owners are reporting better business health and anticipating higher sales", according to NFIB Chief Economist Bill Dunkelberg.
2026-02-10