Financial News: U.S. Small Business Confidence Unexpectedly Drops Amid Ris

U.S. Small Business Confidence Unexpectedly Drops Amid Rising Cost Concerns

04/14/2026 - 14:11:00 (RTTNews)

(RTTNews) - Small business morale in the U.S. sunk in March as the conflict in the Middle East led to a surge in oil prices that raised cost concern for consumers and businesses, results of a survey by the National Federation of Independent Business showed on Tuesday.

The NFIB Small Business Optimism Index fell 3.0 points to 95.8 in March, which is below its 52-year average of 98.0. Economists had forecast a higher score of 98.6 for the month. The industry group said the last time the Optimism Index fell below its historical average was April 2025.

The NFIB survey showed that the frequency of businesses reporting positive profit trends plummeted 11.0 points from February to a net negative 25 percent. This was the main drag on the headline index.

The Uncertainty Index climbed 4.0 points from February to 92, which is well above its historical average of 68.

"The 20 percent Small Business Deduction and other supportive small business tax provisions in the Working Families Tax Cut Act have had many positives for small business owners," NFIB Chief Economist Bill Dunkelberg said.

"However, the dramatic spike in oil prices has spooked consumers and owners alike," the economist noted.

"Small business owners are having to absorb those higher input costs and pass them along to their customers," Dunkelberg added.

The survey also revealed that business expectations declined or a third month in a row to its lowest level since October 2024. The employment index also fell from the previous month.

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