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NFIB small business optimism rises in July to 99.8
The NFIB Small Business Employment Index rebounded to 102.1 after four straight months of declines, while the uncertainty index climbed to 91 from earlier levels.
US small business optimism improved in July, with the NFIB index rising 2.4 points to 99.8, moving above the index’s 52-year average of 98.0 and reaching its highest level since August 2025, according to Forexlive.
The July gain was broad-based, with eight of the index’s 10 components improving. Hiring plans provided the strongest contribution, and the NFIB Chief Economist Bill Dunkelberg said optimism grew as more owners expected to hire and capex plans improved, despite uncertainty remaining elevated.
The NFIB Small Business Employment Index increased to 102.1, a rebound after four consecutive months of declines, while the Uncertainty Index rose 2 points to 91, well above its historical average of 68. Forexlive noted that persistent labor shortages can push wages and costs higher and constrain output if businesses cannot find suitable workers.
Plans for capital expenditures also strengthened, a shift Forexlive said matters because capex decisions often reflect owners’ expectations for future economic conditions. Taken together, the data points were described as painting a generally positive picture for the small-business sector.