The NFIB small business optimism index measures a somewhat ambiguous construct—it is unclear whether the survey asks about optimism regarding the respondent's specific business or about the broader business environment, which could explain divergence from larger corporate earnings optimism.
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Ed YardeniEvidence Quote
“optimism is u a kind of a ambiguous idea. You know, are you optimistic or pessimistic? And uh uh I I don't know if they're asking them are you optimistic or pessimistic about your specific business or the business environment.”
Created: 8/12/2026, 6:33:34 PM
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