Small business optimism slipped 1.1 points in August as sales weakened

Sales did the damage.

The NFIB Small Business Optimism Index fell 1.1 points to 98.7 in August, the group's monthly report shows. That remains above the survey's 52-year average of 98.0.

A seasonally adjusted net negative 9 percent of owners reported higher nominal sales over the prior three months, down 5 points from July and the weakest reading since November 2025. Expectations for better business conditions fell 5 points to a net 10 percent.

Inflation rose 2 points to 16 percent as the single most important problem, tying taxes. The survey drew 476 usable responses from a sample of 5,000 NFIB members.