National Federation of Independent Business (NFIB) report

US Small Business Optimism Index Rises to 90.5 in May, Highest This Year

Jun 11, 2024, 10:03 AM

The NFIB Small Business Optimism Index in the United States rose to 90.5 in May 2024, marking the highest level this year and a 0.8 point increase from April's 89.7. This figure exceeded the forecasted 89.7 and the previous month's reading of 89.7. The rise in optimism reflects improved sentiments among small businesses regarding the economy's prospects. Key highlights include an increase in hiring plans and capital outlays, although firms expecting a better economy and positive earnings trends remain at -30%. Despite the improvement, the looming U.S. presidential election clouds the outlook. The expected value was 89.8, and this is the highest level in five months.