U.S. Small-Business Confidence Rises Amid Brighter Outlook Expectations
By Don Nico Forbes
Small-business confidence in the U.S. rose in December, driven by a jump in those expecting better business conditions going forward.
The National Federation of Independent Business said Tuesday that its small-business optimism index rose to 99.5, compared with 99.0 in November. The figure remains above the index's long-term average of 98, and came in above a consensus of economists polled by The Wall Street Journal that expected the index to remain unchanged.
The NFIB survey provides a monthly snapshot of small businesses in the U.S., which account for nearly half of private-sector jobs.
The optimism index was driven by owners expecting better business conditions, which increased for the first time since July.
Meanwhile, the uncertainty index fell to its lowest level since June 2024.
"2025 ended with a further increase in small business optimism," said Bill Dunkelberg, chief economist at NFIB.
"While Main Street business owners remain concerned about taxes, they anticipate favorable economic conditions in 2026 due to waning cost pressures, easing labor challenges, and an increase in capital investments," Dunkelberg said.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
January 13, 2026 06:23 ET (11:23 GMT)
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