NFIB’s small‑business optimism index fell 0.6 pts to 95.3 in May, the weakest
reading since October 2024 and nearly erasing gains since Trump’s inauguration.
The index had reached a six‑year high after the December 2024 presidential
election. Respondents cited the Iran war, rising inf and economic uncertainty.
Seventy pct of owners reported supply‑chain disruptions affected their business
to some degree, and the share naming inf as their top business problem rose for
a third consecutive month. NFIB chief economist Bill Dunkelberg said more small
firms are facing large, hard‑to‑predict fuel price spikes and are less able than
larger competitors to pass those costs on to customers.
