US June Small Business Optimism Index Beats with 97.4

The National Federation of Independent Business reported its Small Business Optimism Index rose to 97.4 in June, beating the 95.7 consensus estimate. The reading marks a second consecutive monthly gain and the highest level since early 2023.

The index, which surveys small business owners on hiring plans, capital spending, and expectations for the economy, has been trending higher after a prolonged stretch below the long-term average of 98. A measure of firms planning to create new jobs edged up, while the share of owners citing inflation as their single most important problem eased slightly.

The June print supports a narrative of gradually improving conditions for Main Street businesses, even as borrowing costs remain elevated. The NFIB survey is one of the earliest monthly reads on the US economy and often tracks shifts in broader sentiment ahead of official data.