FX.co ★ US Small Business Sentiment Falls to 6-Month Low

In April 2025, the NFIB Small Business Optimism Index experienced a decrease, falling by 1.6 points from the previous month to reach 95.8. This level marked the lowest point since October 2024 but remained slightly above market expectations, which anticipated a drop to 94.5. Concurrently, the Uncertainty Index declined by 4 points, reaching 92, which continued the downward trend from February's historic peak. Despite this decrease, the index remained significantly higher than the historical average of 68, reflecting ongoing concerns among businesses about the unpredictability of domestic trade policies. The percentage of business owners anticipating better business conditions fell by 6 points to a net 15%, largely due to the imposition of higher tariffs by the US government. Furthermore, the proportion of business owners expecting increased real sales declined by 4 points to a net -1%. Regarding employment, 34% of business owners reported having job openings that they could not fill, marking a 6-point drop from March and bringing job openings to their lowest level since 2021.