Stand up for facts and support PolitiFact.

Now is your chance to go on the record as supporting trusted, factual information by joining PolitiFact’s Truth Squad. Contributions or gifts to PolitiFact, which is part of the 501(c)(3) nonprofit Poynter Institute, are tax deductible.

More Info

I would like to contribute

President Donald Trump delivers his State of the Union address to a joint session of Congress on Capitol Hill. (AP) President Donald Trump delivers his State of the Union address to a joint session of Congress on Capitol Hill. (AP)

President Donald Trump delivers his State of the Union address to a joint session of Congress on Capitol Hill. (AP)

Louis Jacobson
By Louis Jacobson January 30, 2018

Donald Trump correct that small business optimism is at record high

President Donald Trump has often touted how his policies are inspiring high levels of confidence in the economy. He did so again in his State of the Union address.

"Small business confidence is at an all-time high," he said.

Is it? Pretty much.

The primary gauge of how confident small businesses are in the economy is the National Federation of Independent Business’s small business optimism index.

On an annual basis, the index averaged 104.8 in 2017. That just beat out the previous record of 104.6, set in 2004.

Here’s the full chart:

The most recent monthly figure (104.475 for December 2017) was actually down from the previous month (107.123 in November 2017). Still, the annual record is a reasonable measurement.

Our ruling

Trump said, "Small business confidence is at an all-time high." The NFIB’s small-business survey set a high in 2017, when all months are averaged. So we rate his statement True.

Share the Facts
6
1
7
PolitiFact rating logo PolitiFact Rating:
True
"Small business confidence is at an all-time high."
his State of the Union address
Tuesday, January 30, 2018

Our Sources

Donald Trump, State of the Union address, Jan. 30, 2018

National Federation of Independent Business, Small Business Optimism Index, accessed Jan. 30, 2018

Browse the Truth-O-Meter

More by Louis Jacobson

Donald Trump correct that small business optimism is at record high

Support independent fact-checking.
Become a member!

In a world of wild talk and fake news, help us stand up for the facts.

Sign me up