Small business sales spring forward on services and restaurant spending

The Fiserv Small Business Index increased 3 points in March to 150.

Highlights:

• Overall sales growth accelerated to +5.5% YoY, +1.8% MoM 
• Consumers continued to dine out, but pulled back from retail spending
• Seasonal demands aided discretionary spending

Note: The Fiserv Small Business Index refreshes with updated data on the 2nd of each month.

Disclaimer: Small businesses are identified per the Small Business Administration definitions and extrapolated to reflect total U.S. sales and distribution. This report does not measure Fiserv’s financial performance.