Global Macro Service > Data Insights > United States

Small business optimism is back at pre-pandemic levels, but downside risks haven’t diminished

Optimism among small businesses has recouped its pandemic-induced losses, with the NFIB Small Business Optimism Index up 3.8 points to 104.0 in September. However, the underlying details signal the rebound is cautious and prone to a renewed plunge should the virus flare in the coming months. Looking ahead, small businesses will face a persistently challenging and risky environment as a health solution is likely to remain out of reach and fresh fiscal support will be slow to arrive and smaller compared to the initial package.

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