NFIB Small Business Optimism – November 2020

The November NFIB Small Business Optimism report was released today, December 8, 2020. The headline of the Economic Trends report is “Small Business Owners Remain Uncertain After Election.”

The Index of Small Business Optimism decreased by 2.6 points to 101.4.

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

The NFIB Small Business Optimism Index declined 2.6 points in November to 101.4 but remain well above the 47-year historical average reading of 98. Six of the 10 Index components declined and four increased. The NFIB Uncertainty Index decreased 8 points to 90, still a historically high reading. Owners expecting better business conditions over the next 6 months declined 19 points to a net 8%.

Here is a chart of the NFIB Small Business Optimism chart, from the Advisor Perspectives’ December 8, 2020 post titled “NFIB Small Business Survey…“:

NFIB Small Business Optimism Index

Further details regarding small business conditions can be seen in the full November 2020 NFIB Small Business Economic Trends (pdf) report.


The Special Note summarizes my overall thoughts about our economic situation

SPX at 3696.05 as this post is written