NFIB Business Optimism Index

The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986. Survey respondents are drawn from NFIB's membership. The report is released on the second Tuesday of each month.

Most recent - Tuesday 14 July 2026 10:00

Previous
95.3
Forecast
95.8
Actual
97.4

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for NFIB Business Optimism Index was 97.4 against a forecast of 95.8.

Past events

Date
Forecast
Actual
Tuesday 14 July 2026 10:00
95.8
97.4
Tuesday 9 June 2026 10:00
96
95.3
Tuesday 12 May 2026 10:00
96.1
95.9
Tuesday 14 April 2026 10:00
98.6
95.8
Tuesday 10 March 2026 10:00
99.7
98.8
Tuesday 10 February 2026 11:00
99.9
99.3
Tuesday 13 January 2026 11:00
99.5
99.5
Tuesday 9 December 2025 11:00
98.4
99
Tuesday 11 November 2025 11:00
98.3
98.2
Tuesday 14 October 2025 10:00
100.5
98.8
Tuesday 9 September 2025 10:00
101
100.8
Tuesday 12 August 2025 10:00
98.6
100.3
Tuesday 8 July 2025 10:00
98.7
98.6
Tuesday 10 June 2025 10:00
95.9
98.8
Tuesday 13 May 2025 10:00
94.5
95.8
Tuesday 8 April 2025 10:00
101.3
97.4
Tuesday 11 March 2025 10:00
101
100.7
Tuesday 11 February 2025 11:00
104.6
102.8
Tuesday 14 January 2025 11:00
100.8
105.1
Tuesday 10 December 2024 11:00
94.2
101.7
Tuesday 12 November 2024 11:00
91.9
93.7
Tuesday 8 October 2024 10:00
91.7
91.5
Tuesday 10 September 2024 10:00
93.6
91.2
Tuesday 13 August 2024 10:00
91.7
93.7
Tuesday 9 July 2024 10:00
89.5
91.5
Tuesday 11 June 2024 10:00
89.8
90.5
Tuesday 14 May 2024 10:00
88.1
89.7
Tuesday 9 April 2024 10:00
90.2
88.5
Tuesday 12 March 2024 10:00
90.7
89.4
Tuesday 13 February 2024 11:00
91.1
89.9
Tuesday 9 January 2024 11:00
90.7
91.9
Tuesday 12 December 2023 11:00
-
90.6
Tuesday 14 November 2023 11:00
-
90.7
Tuesday 10 October 2023 10:00
91.1
90.8
Tuesday 12 September 2023 10:00
-
91.3
Tuesday 8 August 2023 10:00
90.6
91.9

Economic context

Recent economic data has been moderately bearish for USD. Other recent announcements which may affect the market's interpretation of the next NFIB Business Optimism Index result:

PreviousLatest
Consumer Price Index (MoM)Bearish change0.5%-0.4%
Consumer Price Index (YoY)Bearish change4.2%3.5%
Consumer Price Index ex Food & Energy (MoM)Bearish change0.2%0%
Consumer Price Index ex Food & Energy (YoY)Bearish change2.9%2.6%
ADP Employment Change 4-week averageBearish change21K19.75K
Monthly Budget StatementBullish change$-293B$-120B
Existing Home Sales Change (MoM)Bearish change3.7%-2.4%
Initial Jobless ClaimsBullish change217K215K
ADP Employment Change 4-week averageBearish change24.25K21K
ISM Services Employment IndexBullish change47.951.2
ISM Services New Orders IndexBearish change57.355.1
ISM Services PMIBearish change54.554
ISM Services Prices PaidBearish change71.367.7
S&P Global Composite PMIBullish change51.551.9
Factory Orders (MoM)Bearish change5.3%-1.3%
Average Hourly Earnings (MoM)(no change)0.3%0.3%
Average Hourly Earnings (YoY)Bullish change3.4%3.5%
Initial Jobless ClaimsBullish change216K215K
Labor Force Participation RateBearish change61.8%61.5%
Nonfarm PayrollsBearish change129K57K
U6 Underemployment RateBullish change8.1%7.9%
Unemployment RateBullish change4.3%4.2%
ISM Manufacturing Employment IndexBullish change48.649.7
ISM Manufacturing New Orders IndexBearish change56.856
ISM Manufacturing PMIBearish change5453.3
ISM Manufacturing Prices PaidBearish change82.173
ADP Employment ChangeBearish change122K98K
Challenger Job CutsBearish change97.006K45.849K

About NFIB Business Optimism Index

Country:United States
Currency:USD
Source:National Federation of Independent Business
Category:Economic Activity
Frequency:Monthly

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