Small business owners in the U.S. are planning a hiring and investment wave that the economy has not seen in years.

The National Federation of Independent Business’s small business optimism index rose 2.4 points to 99.8, the highest level since August 2025. That was a much bigger improvement than economists had expected. It is the highest reading since August of last year.

Hiring and investment plans are up. The net share of small businesses planning to make capital outlays rose to the highest level since the end of 2024. The net share planning to add workers to their payrolls rose to the highest since October 2022.

Eight out of ten...

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