Small Business Optimism Ended 2025 on a Positive Note

Brighter Outlooks and Reduced Uncertainty Bolster Small Business Confidence

Source: Economics Group of Wells Fargo Bank, N.A.

Summary

The NFIB small business optimism index rose modestly to 99.5 in December, with the underlying details revealing largely positive trends. Sturdy economic fundamentals and increasing clarity around public policy appeared to lift small firms’ economic expectations, while uncertainty around the economic outlook fell back to its lowest point since June 2024.

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