US Small Business Optimism Index Rises 2.2 Points to 93.7, Highest Since Feb 2022

Aug 13, 2024, 10:07 AM

The National Federation of Independent Business (NFIB) reported that the US Small Business Optimism Index rose to 93.7 in July, exceeding expectations of 91.5 and marking the highest level since February 2022. This increase of 2.2 points from the previous month reflects a more positive outlook on the economy and sales among small business owners. Despite this optimism, inflation remains a significant concern, with 25% of business owners citing it as their biggest worry. The index has remained below the 50-year average of 98 for 31 consecutive months. Additionally, the net percentage of firms reporting higher selling prices fell to 22%, and only 5% of employers believe it is a good time to expand.