NFIB Small Business Optimism Index (SBOI) for JULY 2024

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index (SBOI) for July 2024:
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Predicted: 92.0

• Actual: 93.7

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• Change from Previous Month: +2.4 % (+2.2 points.)

• Change from 12 Months Previous: +1.96 % (+1.8 points.)

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CHART: NFIB Small Business Optimism Index
JULY 2024 Update 

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From Today's Report:

"...The NFIB Small Business Optimism Index rose 2.2 points in July to 93.7, the highest reading since February 2022. However, this is the 31st consecutive month below the 50-year average of 98. Inflation remains the top issue among small business owners, with 25% reporting it as their single most important problem in operating their business, up four points from June.

'Despite this increase in optimism, the road ahead remains tough for the nation’s small business owners,' said NFIB Chief Economist Bill Dunkelberg. 'Cost pressures, especially labor costs, continue to plague small business operations, impacting their bottom line. Owners are heading towards unpredictable months ahead, not knowing how future economic conditions or government policies will impact them.'..."

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• The baseline "100" score is associated with 1986 survey data.
  

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• The previous month's SBOI was 91.5.

• 12 months previous, the SBOI was 91.9.

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• Click here to view the full NFIB report

 
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