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Economic Data (USA)

Tuesday, February 11, 2020

NFIB Small Business Optimism Index for January 2020

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index (SBOI) for January 2020:


Predicted: 103.2
Actual: 104.3


  • Change from Previous Month: +1.558% (+1.6 points)
  • Change from 12 Months Previous: +3.063% (+3.1 points)


  • The December 2019 SBOI reading was 102.7

  • The January 2019 SBOI reading was 101.2


Chart: NFIB Small Business Optimism Index January 2020 Update
Chart: NFIB Small Business Optimism Index
January 2020 Update

From Today's Report:

"...'2020 is off to an explosive start for the small business economy, with owners expecting increased sales, earnings, and higher wages for employees,' said NFIB Chief Economist William Dunkelberg. 'Small businesses continue to build on the solid foundation of supportive federal tax policies and a deregulatory environment that allows owners to put an increased focus on operating and growing their businesses.'..."


  • Small business survey questions can be found at the end of today's report.
  • The baseline "100" score is associated with 1986 survey data.


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