US small business optimism hits 3-month high in October

The NFIB Small Business Optimism Index in the US rose to 93.7 in October 2024, the highest level in three months, up from 91.5 in September and surpassing the forecast of 91.9.

US small business optimism hits 3-month high in October

According to NFIB Chief Economist Bill Dunkelberg, "With the election behind us, small business owners are likely to feel less uncertain about future business conditions. While optimism grows on Main Street, small businesses face significant economic challenges. Low sales, unfilled job openings, and persistent inflation still weigh on owners, but they remain hopeful as they approach the holiday season." A net negative 20% of owners reported higher nominal sales over the past three months, a decrease of three points from September and the lowest since July 2020.

Owners' sales expectations reach year's highest, still negative

However, the net percentage of owners expecting higher absolute sales volumes increased by five points to a net negative 4%, marking the year's highest level.