December 2025: US Small Business Optimism Continues to Rise

The NFIB Small Business Optimism Index rose 0.5 points in December to 99.5 and remained above its 52-year average of 98. Of the 10 Optimism Index components, two increased, three decreased, and five were unchanged. An increase in those expecting better business conditions primarily drove the rise in the Optimism Index. The Uncertainty Index fell 7 points from November to 84, the lowest reading since June 2024.In conjunction with the December report, NFIB also released a new episode of the “Small Business by the Numbers” podcast. This is the NFIB Research Center’s new podcast where co-hosts Holly Wade, the ... (