The National Federation of Independent Business (NFIB) reported a decrease in small-business optimism in January, falling to 102.8 from its highest level in six years. This decline was attributed to a surge in uncertainty index, which jumped by the largest margin since 1986. Specifically, capital spending plans showed the steepest monthly decline since 1995. The drop is seen as a response to concerns over Trump administration policies and the Federal Reserve’s pause on interest-rate cuts.
Source: https://www.bloomberg.com/news/articles/2025-02-11/us-small-business-optimism-retreats-from-highest-since-2018