Apr 21 • News
Small businesses in the U.S. are flashing a clear warning signal on the economy.
The NFIB Small Business Optimism Index dropped another 3.0 points in March to 95.8, marking its third straight monthly decline and falling below the long-term average of 98.0 for the first time since April 2025.
At the same time, uncertainty is spiking. The Uncertainty Index jumped to 92.0, its highest level since September 2025 and far above the historical average of 68.0.
Confidence in the future is collapsing fast. The share of small business owners expecting better conditions fell to just 11%, the lowest since October 2024.
The message is simple: small businesses are losing confidence, and uncertainty is rising fast.
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Small businesses in the U.S. are flashing a clear warning signal on the economy.
