Spending at small businesses rose in July as consumers spend more on general merchandise
Consumers spent more at small businesses in July, a rebound fueled by strong sales of general merchandise and health and personal care products
By MAE ANDERSON
Published - Aug 13, 2024, 05:15 PM ET
Last Updated - Aug 13, 2024, 05:15 PM EDT
NEW YORK (AP) — Consumers spent more at small businesses in July, a rebound fueled by strong sales of general merchandise and health and personal care products.
The Fiserv Small Business Index rose 1 point to 141 after a 4 point decline in June. The figure is derived from point-of-sale transaction data, including card, cash, and check transactions in-store and online across about 2 million U.S. small businesses.
“Following modest declines in June, consumer spending rebounded nicely in July to help many small businesses start the second half of the year strong.” said Jennifer LaClair, head of merchant solutions at Fiserv.
Compared with July of last year, sales rose 3.5% and number of transactions rose 3.3%.
