In February 2026, the NFIB Small Business Optimism Index edged down slightly to 98.8, marking the second straight monthly decline but remaining near its long‑term average.
Earnings trends improved, yet expectations for future sales softened. The labor market showed continued tightness, with job openings rising and hiring plans slightly lower. Inflation pressures eased modestly as actual price increases and future price plans declined. Taxes remained the top concern for small business owners, while fewer cited labor quality as a key issue.
Overall business health was mostly positive, though optimism about future conditions softened.
