Small business optimism was essentially flat month over month in February, according to a report from the National Federation of Independent Business (NFIB). The index, which is based on surveys from small companies across a broad range of industries, fell half a point from January to register a 98.8, marking the second consecutive month of small movements down toward the long-term average of 98.7. The decline in sales expectations was the main contributor to the small drop in the optimism index. However, higher gas prices were a significant issue for many small business owners due to the war in Iran. The NFIB's employment index also increased in February due to higher compensation pressures, indicating a tighter labor market. Despite this, insurance concerns decreased in February after a surge in January.