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

Some of this tapering could be due to short-term seasonal demand shifts, however. Notable increases in June spending came from rising premiums for insurance, higher summer foot traffic and new subscription sign-ups at web-based content hosting sites. But consumers cut back on small business spending and visits across a number of industries, including retail, accommodations, restaurants, ambulatory health care and professional services.

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