US September NFIB small business optimism index 98.8 vs 100.6 expected

  • Latest data released by NFIB - 14 October 2025
usa

The NFIB Small Business Optimism Index declined 2.0 points in September to 98.8. This was the first decline in three months, though it remains above the survey’s 52-year average of 98. The Uncertainty Index rose 7 points from August to 100, the fourth-highest reading in over 51 years.

NFIB Chief Economist Bill Dunkelberg said: "Optimism among small business owners decreased in September. While most owners evaluate their own business as currently healthy, they are having to manage rising inflationary pressures, slower sales expectations, and ongoing labor market challenges. Although uncertainty is high, small business owners remain resilient as they seek to better understand how policy changes will impact their operations"

US NFIB Small Business Optimism Index
US NFIB Small Business Optimism Index

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