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Economic Buzz: US NFIB small business confidence index rises in November
10-Dec-2025 09:16
U.S. small businesses turned more confident than expected in November on stronger sales growth expectations, but the uncertainty continued to rise as firms delayed their investment plans, survey data from the National Federation of Independent Business showed on Tuesday.

The NFIB Small Business Optimism Index rose 0.8 points to 99.0 in November from 98.2 in October.

Among the main components of the headline index, six increased, three fell and one was stable. The NFIB said a 9-point increase to 15 percent in the share of firms expecting sales growth contributed most to the rise in the optimism measure.

Meanwhile, the Uncertainty Index rose three points to 91 in November, led by an increase in firms reporting uncertainty about capital expenditure plans over the next three to six months.

The NFIB survey showed that 21 percent of small business owners cited labor quality as their single most important problem, down from the previous month and erased most of the sudden increase in October. Labor quality was listed as the top problem, followed by inflation.

The survey also found that the net percent of owners raising average selling prices rose 13 points from October to a net 34 percent, which was the highest reading since March 2023 and the largest monthly jump in the survey's history.

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