New NFIB Industry-Specific Survey Shows Shift in Small Business Optimism

May 28, 2026 - 01:23

WASHINGTON, D.C. (May 27, 2026) - The NFIB Research Center released its latest industry-specific quarterly Small Business Economic Trends survey, covering the construction, manufacturing, retail, and services sectors. The report shows that the Optimism Index for all four industries dropped from the previous quarter.

The decline was broad, with each sector reporting lower confidence in future business conditions. Owners cited ongoing concerns about inflation, labor quality, and regulatory costs as the main reasons for the shift. In the construction industry, optimism fell the most, driven by higher material prices and a shortage of skilled workers. Manufacturing saw a similar dip, with supply chain disruptions still creating uncertainty.

Retail and services also reported weaker sentiment. Retail owners pointed to slower consumer spending, while service providers struggled with rising operational costs and difficulty finding employees. Despite the overall drop, some owners noted that sales figures remained stable, though they expect conditions to tighten in the coming months.

The NFIB survey collects data from small business owners across the country and is considered a key measure of economic health at the grassroots level. The latest results suggest that while the economy has held up in some areas, small business owners are bracing for a more difficult environment ahead.