U.S. Small Business Uncertainty Persist at High Levels in May

2025-06-11 02:35:54

(MENAFN) Uncertainty persisted at high levels among U.S. small businesses in May, according to new data released Tuesday by the National Federation of Independent Business (NFIB).

“Although optimism recovered slightly in May, uncertainty is still high among small business owners,” said NFIB chief economist Bill Dunkelberg. “While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth.”

The small business optimism index showed a net 1 percent of owners considered their current inventory levels “too low” in May—an increase of 7 points from April and the highest since August 2022. This marked the largest monthly gain recorded in the survey’s history.

Additionally, the net percentage of small business owners anticipating better business conditions jumped 10 points from April to a net 25 percent.

Expectations for higher real sales volumes also surged, rising 11 points to a net 10 percent, making it the biggest driver behind the optimism index’s overall improvement.

These shifts came amid the backdrop of President Donald Trump’s broad tariffs, which continue to influence the economic climate for small businesses nationwide.

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