According to the latest National Federal of Independent Business (NFIB) Small Business Optimism index survey, small business optimism declined by 3.3 points in March to 97.4, falling just below the 51-year average of 98. The survey also found that the net percentage of small business owners expecting better business conditions fell 16 points from February to a net 21% (seasonally adjusted). This marks the third consecutive monthly decline and the largest monthly decline since December 2020 amid the COVID-19 pandemic. Additionally, a new 30% of small businesses said they are planning to hike prices in March—the highest reading since March 2024.
