NFIB Small Business Optimism Jumps 2.1 Points to 97.4 as Inflation Still Tops 21% of Owners' Concerns
Updated
Updated · Corridor Business · Jul 23
NFIB Small Business Optimism Jumps 2.1 Points to 97.4 as Inflation Still Tops 21% of Owners' Concerns
2 articles · Updated · Corridor Business · Jul 23
Summary
The NFIB Small Business Optimism Index rose 2.1 points to 97.4 in June, moving closer to its 52-year average of 98.0 as owners grew more upbeat on business conditions and sales.
A net 13% expected better business conditions over the next six months, up 10 points, while a net 9% saw higher real sales next quarter, up 8 points; the uncertainty index still stood at 89.
Inflation remained the top problem for 21% of owners, up 3 points from May, and a net 38% raised average selling prices in June—the highest since January 2023.
Hiring stayed cautious: the employment index was roughly flat at 100.2, 32% reported unfilled job openings, and high interest rates plus modest growth continued to restrain staffing and capital spending.
Lower fuel costs offered some relief, with 20% planning capital outlays and the average short-term loan rate falling to 7.4%, suggesting better operating conditions but not a full easing of cost pressures.