Small business optimism increased three points in May to 98.8, just above the 51-year average of 98, according to the National Federation of Independent Business’ Small Business Optimism Index report.
The Uncertainty Index rose two points from April to 94.
“Although optimism recovered slightly in May, uncertainty is still high among small business owners,” NFIB Chief Economist Bill Dunkelberg said in a statement. “While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth.”
In May, 18% of small business owners reported “taxes” as their single most important problem. The last time taxes were ranked as the top single most important problem was in December 2020.
Read the full report here.
