The small business optimism index of the US National Federation of Independent Business fell by 0.6 points in October to 98.2, but remained above its 52-year average of 98.
The uncertainty index fell by 12 points from September to 88, the lowest reading in 2025.
In October, 27 per cent of small business owners cited labour quality as their single most important problem—up by 9 points from September.