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# NFIB Celebrates 50 Years of Small Business Economic Trends Survey

NFIB has been conducting the Small Business Economic Trends survey for 50 years. This survey aims to gauge the sentiment and outlook of small business owners in the current economic environment. However, the findings of the survey have revealed a lack of optimism among small business owners.

## Decline in Optimism

The latest data shows that the Optimism Index decreased by 0.1 points in October, bringing it to 90.7. This marks the 22nd consecutive month that the index has remained below the 50-year average. In fact, the last time the index was at or above the average was in December 2021.

### Gloomy Outlook

NFIB Chief Economist Bill Dunkelberg expressed concerns about the current state of small businesses. He stated that there is still a long road to recovery and that small business owners are not optimistic about better business conditions. This sentiment is reflected in the stagnation of the index and the hesitance of owners to grow their inventories due to persistent challenges such as labor and energy costs.

#### National Findings

The national survey unveiled several key findings including the impact of inflation on operating businesses, a negative outlook on future business conditions, and challenges in sales and job openings. The survey also highlighted the difficulties faced by small business owners in finding and retaining qualified employees.

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