Key facts
- The NFIB Small Business Optimism Index decreased in May.
- The May reading marked the lowest level for the index since October 2024.
- The fall has reversed nearly all of the optimism gains recorded since President Donald Trump's election.
The index tracking US small business optimism experienced a significant decline in May, reaching its lowest point since October 2024. This drop has effectively erased almost all of the gains in optimism that were observed following President Donald Trump's election for a second term. The National Federation of Independent Business (NFIB) compiles this index, which serves as a key indicator of the health and sentiment of the small business sector in the United States.