The May 2025 NFIB Small Business Optimism report was released today, June 10, 2025.
The Index of Small Business Optimism increased by 3.0 points to 98.8.
Here is an excerpt that I find particularly notable (but don’t necessarily agree with):
Eighteen percent of small business owners reported taxes as their single most important problem, up two points from April and ranking as the top problem. The last time taxes were ranked as the top single most important problem was in December 2020.
Below is a chart of the NFIB Small Business Optimism chart, as seen in the full May 2025 NFIB Small Business Economic Trends (pdf) report:
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 6035.82 as this post is written