USA12 August, 20262 min read
NFIB Reports US Small Business Optimism Index Climbs 2.4 Points To 99.8 In July
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NFIB index rose 2.4 points to 99.8 in July. July level is an 11-month high, above the 52-year average.
NFIB optimism rises
Small business optimism in the United States rose in July, with the National Federation of Independent Business (NFIB) reporting its Small Business Optimism Index climbed 2.4 points to 99.8, its highest level since August 2025. NFIB Chief Economist Bill Dunkelberg said, "Small business optimism rose again in July, with a significant increase in owners expecting to hire," and he added that Main Street anticipates business conditions will continue to improve.
The NFIB data described in the sources also said 20 percent of small business owners plan to create new jobs over the next three months, up 9 points from the month prior, and that hiring plans were at their highest level since October 2022. In parallel, the Capital Brief summary said the index rose 2.4 points to 99.8 and that the share of business owners planning to add jobs jumped to a net 20%, the highest level since October 2022.
Public stays pessimistic
Even as NFIB’s small-business measure improved, the sources said the general public remained less optimistic about the economy.
A Gallup poll cited by Xinhua said the percentage of Americans rating economic conditions as excellent or good stood at a mere 22 percent in July, while those calling conditions poor were tagged at 44 percent.
Brookings Institution Senior Fellow Darrell West told Xinhua, "It is good that small businesses are feeling optimistic. But the general public remains pessimistic about the economy," and he pointed to ongoing problems making ends meet.
Christopher Galdieri, a political science professor at Saint Anselm College in the northeastern state of New Hampshire, said, "What we're seeing in the public at large is a general economic discontent, regardless of what economic indicators say," and he added that the pattern was not specific to President Donald Trump.
Hiring, investment, uncertainty
The July NFIB readings described in the sources linked the optimism rise to hiring expectations and capital spending intentions, while also highlighting persistent uncertainty. The Xinhua report said planned price increases dropped notably from June and that more small business owners planned capital outlays in the next six months, while the Capital Brief said 25% planned to invest in the next six months, the highest reading since December 2024.
Quartz en Français reported that the NFIB uncertainty index increased 2 points to 91, well above its historical average of 68, and it said Dunkelberg attributed the uncertainty to the "situation de la guerre avec l'Iran". In the same Quartz en Français summary, the inflation-related concern eased, with the share of owners identifying inflation as the most important problem dropping 7 points to 14%, while the share reporting higher average selling prices fell 7 points to 31%.