Consumer spending at small businesses continued to grow in February, with retail and restaurant sales showing notable gains, according to the latest Fiserv Small Business Index. The index remained steady at 147, unchanged from January, reflecting a slight month-over-month increase of 0.1% in sales and a 2.1% increase year over year.
Retail spending saw consistent growth, with sectors such as general merchandise, clothing, and sporting goods leading the way. The restaurant industry also rebounded slightly from January, despite ongoing trends of consumers opting for lower-cost dining options. Transactions at restaurants rose by 3.9% month over month, while overall sales increased by 2.3%.
The data also revealed shifting consumer priorities. Spending on services declined slightly from January, while retail categories such as auto parts, furniture, and electronics saw the biggest monthly gains. The strongest year-over-year retail growth was recorded in general merchandise stores (+7.3%), clothing (+3.7%), and sporting goods (+3.6%).
Regionally, North Dakota, Georgia, and South Carolina led in year-over-year sales growth, while Atlanta and Miami posted the strongest increases among major cities. Meanwhile, the New York metro area reported a decline of 5.7% in small business sales compared to the same time last year.
The Fiserv Small Business Index is based on point-of-sale transaction data across approximately 2 million U.S. small businesses. The index is updated monthly to provide insights into consumer spending trends and economic activity within the small business sector.
