Tuesday, December 10, 2024

NFIB Small Business Optimism – November 2024

The November NFIB Small Business Optimism report was released today, December 10, 2024. The headline of the Economic Trends report is “Small Business Optimism Jumps Above 50-Year Average in November.”

The Index of Small Business Optimism increased by 8.0 points to 101.7.

Here is an excerpt that I find particularly notable (but don’t necessarily agree with):

The NFIB Small Business Optimism Index rose by eight points in November to 101.7, after 34 months of remaining below the 50-year average of 98. This is the highest reading since June 2021. Of the 10 Optimism Index components, nine increased, none decreased, and one was unchanged. Following last month’s record high of 110, the Uncertainty Index declined 12 points in November to 98.

Below is a chart of the NFIB Small Business Optimism chart, as seen in the full November 2024 NFIB Small Business Economic Trends (pdf) report:

NFIB Small Business Optimism Index chart

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The Special Note summarizes my overall thoughts about our economic situation

SPX at 6034.91 as this post is written

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