Economic Buzz: US NFIB Small Business Optimism index drops but remains above long term average

The US NFIB Small Business Optimism Index dropped in August to 98.7, just 1.1 points below July?s highest level since August 2025, but remaining above the 52-year average of 98.0. The Uncertainty Index fell 2 points to 89, remaining above the historical average of 68. Expectations for better business conditions deteriorated 5 points to a net 10% (seasonally adjusted) but remain above the average of net 4%. When asked to evaluate the overall health of their business, 11% of owners rated it as excellent (down 3 points), 57% as good (up 2 points), 28% as fair (up 2 points), and 3% as poor (down 1 point).

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