Tuesday, September 9, 2025

NFIB Small Business Optimism – August 2025

The August 2025 NFIB Small Business Optimism report was released today, September 9, 2025.

The Index of Small Business Optimism increased by .5 points to 100.8.

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

The NFIB Small Business Optimism Index rose 0.5 points in August to 100.8, nearly 3 points above the 52-year average of 98. Of the 10 Optimism Index components, four increased, four decreased, and two were unchanged. The increase in those expecting real sales to be higher contributed the most to the rise in the Optimism Index. The Uncertainty Index fell by 4 points to 93 but remained well above the historical average. The decline was due to a decrease in uncertainty about financing expectations and planned capital expenditures.

Below is a chart of the NFIB Small Business Optimism chart, as seen in the full August 2025 NFIB Small Business Economic Trends (pdf) report:

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The Special Note summarizes my overall thoughts about our economic situation

SPX at 6512.61 as this post is written

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