India, April 14 -- Small business morale in the U.S. sunk in March as the conflict in the Middle East led to a surge in oil prices that raised cost concern for consumers and businesses, results of a survey by the National Federation of Independent Business showed on Tuesday.
The NFIB Small Business Optimism Index fell 3.0 points to 95.8 in March, which is below its 52-year average of 98.0. Economists had forecast a higher score of 98.6 for the month. The industry group said the last time the Optimism Index fell below its historical average was April 2025.
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