NFIB Small Business Optimism – February 2024

The February NFIB Small Business Optimism report was released today, March 12, 2024. The headline of the Economic Trends report is “Optimism on Main Street Declines as Inflation Looms as Top Challenge.”

The Index of Small Business Optimism decreased by .5 point to 89.4.

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

The NFIB Small Business Optimism Index decreased in February to 89.4, marking the 26th consecutive month below the 50-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem in operating their business, up three points from last month and replacing labor quality as the top problem.

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

NFIB Small Business Optimism Index 89.4


The Special Note summarizes my overall thoughts about our economic situation

SPX at 5177.36 as this post is written