The National Federation of Independent Business (NFIB) released its latest Small Business Optimism Index, revealing a significant increase in the economic outlook among small business owners. The index rose to 101.7 in November, surpassing its 50-year average of 98 for the first time in 34 months.
Ronda Wiggers, NFIB's Montana State Director, highlighted the positive attitude of Montana's small business owners compared to those in other states. She attributed this to the state's legislative support and community involvement. "Montana’s small business owners have had a little better attitude toward the economy than those in other states thanks primarily to our Legislature’s understanding of their importance to the jobs they create and the deep involvement they have in their communities," she stated.
Bill Dunkelberg, NFIB Chief Economist, noted that recent election results have contributed to this surge in optimism by signaling potential shifts in economic policy. He said, "The election results signal a major shift in economic policy, leading to a surge in optimism among small business owners."
Key findings from the report show an increase of 41 points from October regarding expectations for economic improvement. This is the highest since June 2020. Additionally, more small business owners now believe it is a good time to expand their operations.
The NFIB's Small Business Optimism Index serves as an important measure of America's small business economy and is widely used by policymakers at various levels.
For more information about NFIB and its advocacy efforts on behalf of small businesses, visit nfib.com.
