NFIB Small Business Optimism Index (SBOI) for FEBRUARY 2025

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index (SBOI) for February 2025:
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Predicted: 99.0

• Actual: 100.7

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• Change from Previous Month: -2.04 % (-2.1 points.)

• Change from A Year Ago: +12.64 % (+11.3 points.)

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CHART: NFIB Small Business Optimism Index
FEBRUARY 2025 Update 

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CHART: NFIB Uncertainty Index
 FEBRUARY 2025 UPDATE

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From Today's Report:

"...The Small Business Optimism Index fell by 2.1 points in February to 100.7, the fourth consecutive month above the 51-year average of 98 but is 4.4 points off its most recent peak of 105.1 in December. Of the 10 Optimism Index components, three increased and seven decreased. The Uncertainty Index rose 4 points to 104, the second highest reading. The Optimism Index moderated in February while their level of uncertainty spiked. Small business owners have experienced uncertainty whiplash over the last four months with the Index falling from October’s 110 reading to 86 in December and then back up to 104...

...Uncertainty is high and rising on Main Street and for many reasons. Those small business owners expecting better business conditions in the next six months dropped and the percent viewing the current period as a good time to expand fell, but remains well above where it was in the fall. Inflation remains a major problem, ranked second behind the top problem, labor quality..."

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

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• Previous Month's SBOI: 102.8.

• SBOI, 12-Months Previous: 89.4.

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• Click here to view the full NFIB report

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