Fiserv Small Business Index for April: sales at retail and service businesses up; discretionary spend down [Yahoo! Finance]
Fiserv, Inc. (FI)
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Source: Yahoo! Finance
Small business sales grew 5.6% year-over-year, and 2.2% month-over-month. “Consumer spending shifted significantly in April, with appreciable gains in service-based business spending. This includes professional services such as tax preparation, offsetting a slowdown in discretionary spending,” said Prasanna Dhore, Chief Data Officer at Fiserv. “Retail was also a bright spot in April, with small retailers seeing 7.7% year-over-year sales increases compared to 2023.” Retail rebounds from March, household-related subsectors lead the way Nationally, small business retail sales rebounded nicely from a sluggish March. Sales grew 1.6% month-over-month and 7.7% year-over-year. Most retail subsectors experienced strong month-over-month increases. This includes furniture (+4.9%), building materials (+3.8%), motor vehicle parts (+4.4%) and gas stations (3.1%). For these destinations, the year-over-year trajectory was similarly strong. Service-based business spending grows across sector
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