NFIB Small Business Optimism – November 2023

The November NFIB Small Business Optimism report was released today, December 12, 2023. The headline of the Economic Trends report is “Small Business Owners Pessimistic About Future Business Conditions.”

The Index of Small Business Optimism decreased by .1 point to 90.6.

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

NFIB’s Small Business Optimism Index decreased 0.1 point in November to 90.6, which marks the 23rd consecutive month below the 50-year average of 98. Twenty-two percent of owners reported that inflation was their single most important problem in operating their business, unchanged from October but 10 points lower than this time last year.

Below is a chart of the NFIB Small Business Optimism chart, as seen in the full November 2023 NFIB Small Business Economic Trends (pdf) report:

NFIB Small Business Optimism Index 90.6


The Special Note summarizes my overall thoughts about our economic situation

SPX at 4637.29 as this post is written