Small business optimism hits 22-year high as majority foresee profits rising amid cooling inflation

Small business owners report being highly optimistic about the U.S. economy in 2024, with economic confidence at a 22-year high.

55% say they are "highly optimistic" about the national economy this year, up sharply from 34% last fall.

Over 80% expressed confidence about their own business's financial prospects over the next 6 months.

Just over half think their profits will rise in the next 6 months, while only 5% expect earnings to fall.

While still facing challenges like access to loans and qualified workers, fewer plan to raise prices given cooling inflation.