Small business optimism rose 0.1 points in April to 95.9, below its 52-year average of 98.0 for the second month in a row, according to the National Federation of Independent Business’s Small Business Optimism Index. The Uncertainty Index was down 4 points month-over-month to 88, still well above its historical average of 68.
“Inflationary pressures continue to be a challenge for Main Street,” NFIB Chief Economist Bill Dunkelberg said. “While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months.”
Other April findings:
- Reports of actual and planned price increases rose, with percent of owners raising average selling prices going up 5 points month-over-month to 30% (seasonally adjusted), well above the historical average of 13%. In the next three months, 27% of owners plan to increase prices, up 3 points from March.
- Labor quality was cited as the single most important problem for 18% of owners, up 3 points from March.
- Down 4 points from March, 7% of owners reported that it’s a good time to expand their business, the lowest level since October 2024.
Read more of the findings here.
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