The Small Business Optimism Index fell by 2.1 points in February to 100.7, 4.4 points off its most recent peak of 105.1 in December 2024.
Of the 10 Optimism Index components, three increased and seven decreased.
The Uncertainty Index rose 4 points to 104, the second highest reading.
The Optimism Index moderated in February while their level of uncertainty spiked. Small business owners have experienced uncertainty whiplash over the last four months with the Index falling from October’s 110 reading to 86 in December and then back up to 104.