The NFIB Small Business Optimism Index in the US decreased to 95.3 in May 2026, the lowest since October 2024, compared to 95.9 in April and forecasts of 96. “More small business owners are struggling with significant and unpredictable hikes in fuel prices, which are more challenging for small businesses to pass on to their customers compared to their larger corporate competitors”, NFIB Chief Economist Bill Dunkelberg, said. 19% of small business owners reported taxes as their single most important problem, up 2 points from April. It was followed by inflation, with 18% citing it as their single most important business problem. 70% reported that supply chain disruptions affected their business to some extent and only 16% plan to make capital outlays in the next three to six months, the lowest since 2009. A net 36% of small business owners raised average selling prices, the highest reading since March 2023. A net 34% plan to increase prices, the highest reading since July 2022. source: National Federation of Independent Business

NFIB Business Optimism Index in the United States decreased to 95.30 points in May from 95.90 points in April of 2026. NFIB Business Optimism Index in the United States averaged 97.98 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 June of 2026.

NFIB Business Optimism Index in the United States decreased to 95.30 points in May from 95.90 points in April 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
2026-05-12 10:00 AM
NFIB Business Optimism Index
Apr 95.9 95.8 96.1 96.2
2026-06-09 10:00 AM
NFIB Business Optimism Index
May 95.3 95.9 96.0 95.7
2026-07-14 10:00 AM
NFIB Business Optimism Index
Jun 95.3 96


Related Last Previous Unit Reference
NFIB Business Optimism Index 95.30 95.90 points May 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
95.30 95.90 108.80 80.10 1975 - 2026 points Monthly
SA

News Stream
US Small Business Optimism Lowest Since 2024
The NFIB Small Business Optimism Index in the US decreased to 95.3 in May 2026, the lowest since October 2024, compared to 95.9 in April and forecasts of 96. “More small business owners are struggling with significant and unpredictable hikes in fuel prices, which are more challenging for small businesses to pass on to their customers compared to their larger corporate competitors”, NFIB Chief Economist Bill Dunkelberg, said. 19% of small business owners reported taxes as their single most important problem, up 2 points from April. It was followed by inflation, with 18% citing it as their single most important business problem. 70% reported that supply chain disruptions affected their business to some extent and only 16% plan to make capital outlays in the next three to six months, the lowest since 2009. A net 36% of small business owners raised average selling prices, the highest reading since March 2023. A net 34% plan to increase prices, the highest reading since July 2022.
2026-06-09
US Small Business Optimism Stagnates in April
The NFIB Small Business Optimism Index in the US held steady at 95.9 in April 2026, barely changed from March’s 11-month low of 95.8 and slightly below market expectations of 96.1. The index remained below its 52-year average of 98.0 for the second consecutive month. Meanwhile, the Uncertainty Index dropped by 4 points to 88, though it stayed well above its historical average of 68. The Employment Index declined for a second straight month, while there were reports of both actual and planned price increases rising. NFIB Chief Economist Bill Dunkelberg noted, “Inflationary pressures continue to be a challenge for Main Street. While small business optimism remains fragile, the benefits of the Working Families Tax Cut Act should start to support the private sector in the coming months.”
2026-05-12
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