Summer pause: Small business sales growth tapers in June as consumers take a breather on spending

📆 7/16/2024 4:04 PM
📰 AP

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Small business sales growth slowed in June as consumers took a pause on spending. That’s according to new data from financial services and payments provider Fiserv. Consumers have been reining in spending as still high prices on groceries and other necessities and high interest rates weigh on their pocketbooks.

FILE - A shop holds a sidewalk sale on Feb. 10, 2023, in Providence, R.I. Small business sales growth slowed in June, 2024, as consumers took a pause on spending. Consumers have been reining in spending as high prices on groceries and other necessities and high interest rates weigh on their pocketbooks. The Commerce Department reported Tuesday that

The slowdown from May was driven by lower average ticket sizes as inflation slowed and consumers became more budget conscious, according to Fiserv.

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