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Small business optimism remains above average
Stacy Wescoe//February 12, 2026//
Listen to this articleThe NFIB Small Business Optimism Index fell 0.2 points in January to 99.3 but remained above its 52-year average of 98.
The NFIB said that of the 10 Optimism Index components, three increased and seven decreased.
Expected real sales volume was the only component with substantial change, increasing by 6 points.
The Uncertainty Index rose 7 points from December to 91.
There was a rise in owners reporting uncertainty about whether it is a good time to expand their business was the primary driver of the rise in the Uncertainty Index.
NFIB Pennsylvania State Director Greg Moreland commented on the report.
“Small business optimism is steadying, but Pennsylvania small employers are increasingly alarmed about the costly proposals coming out of Harrisburg. Small businesses need true economic growth and saddling them with additional costs and mandates won’t allow that to happen,” Moreland said.
“While GDP is rising, small businesses are still waiting for noticeable economic growth,” said NFIB Chief Economist Bill Dunkelberg. “Despite this, more owners are reporting better business health and anticipating higher sales.”
One major highlight of this report is the new NFIB Small Business Employment Index, which translates multiple jobs-related questions into one single number.
Currently, this index indicates a balanced labor market, coming in about 1.5 points above its historical average (101.6 current vs 100 average).
