The National Federation of Independent Businesses Small Business Optimism Index rose 2.4 points to 99.8 in July, the highest level since August 2025. Of the 10 subcategories of the optimism index, 8 items rose and 2 fell. The significant improvement in recruitment plans contributed the most to the rise in this index. Bill Dunkelberg, chief economist at NFIB, said: “Small business optimism rose again in July, with a significant increase in expected hiring of business owners and improvements in capital expenditure plans. Despite the current high level of uncertainty, the business environment is expected to continue to improve.” Looking ahead, 20% of business owners plan to create new jobs within the next three months, 14% see inflation as the biggest business problem, and 25% of small business owners plan to spend capital within the next six months.

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