April Small Business Sales Improve Slightly, Essentials Outpace Discretionary Spending

Fiserv’s April 2025 Small Business Index rose 1 point to 151, with year-over-year sales up 3.2% and month-over-month growth at 0.4%. Essentials like healthcare and groceries drove gains, while discretionary sectors such as accommodation and transportation saw slowdowns. Restaurant spending reflected budget caution, with average ticket sizes down 7.8% despite a 9.6% rise in transactions. Retail sales rose 2.2% annually, led by groceries and clothing, but growth cooled on a monthly basis. Inflation’s impact remained steady at 2.4%. Fiserv attributes the shifts to consumers prioritizing needs over wants amid ongoing uncertainty.