NFIB data: May small‑business confidence fell 0.6 points to 95.3, below the
52‑year mean of 98.0. The NFIB uncertainty index rose 3 points to 91, well above
its historical mean of 68; NFIB attributed the jump largely to the Iran war’s
impact on global oil and commodity supplies and said earlier resolution would
speed a return to normal. Firms planning price increases in the next three
months rose 7 percentage points to 34%—the highest since July 2022—while 36% of
owners said they will raise prices, up 6 points from April and the highest since
March 2023, signaling inflation may remain elevated.
