The NFIB index climbed to its highest level since November, signaling improved sentiment among small businesses ahead of key inflation data.
US small business optimism improved in July, with the NFIB index rising to 99.8 from a prior 97.4, surpassing the 97.5 estimate. The increase marks the highest reading since November, reflecting a modest rebound in business confidence.
Expectations had centered on a slight uptick from June’s 97.4 print, but the actual figure outpaced forecasts. The index remains below its historical average of 100, though the upward move suggests resilience amid economic uncertainty.
Markets are now shifting focus to the upcoming US CPI report, which could influence Federal Reserve policy expectations.