The Small Business Optimism Index for February was 98.8, down 0.5 points from January. The Index remains slightly above its 52-year average of 98 but marks the second consecutive monthly decline. Of the 10 Optimism Index components, three increased, four decreased, and three were unchanged. Only one component saw a substantial increase, with earnings trends increasing 7 points. This larger gain was counterbalanced by a decline in sales expectations, which fell just below its December level after a substantial January gain. While small business optimism edged down slightly in February, uncertainty declined more meaningfully. The Uncertainty Index fell 3 points from January to 88. A decline in owners reporting uncertainty about whether to make capital expenditures was the primary driver of the lower Uncertainty Index.
Small Business Trends & Research
The NFIB Research Center promotes greater understanding of small business and the conditions that impact it. The Center produces and disseminates various surveys and studies on small business, focusing on areas related to public policy’s effects.
Small Business Economic Trends Survey (SBET)
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Quarterly Industry Report
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