The NFIB Small Business Optimism Index in the US declined for the second consecutive month, slipping to 98.8 in February 2026 from 99.3 in January and coming in below market expectations of 99.7. “Although optimism declined slightly, small businesses report feeling more certain as they look toward the coming months. High sales and increased profits made February a more positive month for many owners, but competition from large businesses is putting stress on Main Street firms as they navigate the current economic climate,” said NFIB Chief Economist Bill Dunkelberg.
The net share of owners expecting higher real sales volumes dropped 8 points to a net 8%. Meanwhile, 15% of small business owners cited labor quality as their single most important problem, down 1 percentage point from January. Labor quality has not ranked this low as the top concern since April 2020. In addition, 59% of small business owners reported that supply chain disruptions affected their operations to some extent, a 3‑point decline from January.
