Fiserv Small Business Index® Steady for September as Spend Shifts to Services
The Fiserv Small Business Index for September 2024 remained steady at 141, indicating consistent consumer spending at small businesses in the United States. Key highlights include:
- Year-over-year small business sales grew 1.8%, while transactions increased 4.0%
- Month-over-month sales rose slightly by 0.1%, with transactions declining 0.6%
- Retail and restaurant spending cooled, while services sectors saw growth
- Professional, Scientific, and Technical Services experienced strong year-over-year growth in sales (11.9%) and transactions (8.1%)
- Regionally, New York, Vermont, and Minnesota showed the fastest growth compared to August
The index provides insights into consumer spending patterns and small business performance across various sectors and regions.
L'indice delle piccole imprese Fiserv per settembre 2024 è rimasto stabile a 141, indicando una spesa dei consumatori costante presso le piccole imprese negli Stati Uniti. I punti salienti includono:
- Le vendite delle piccole imprese sono cresciute dell'1,8% rispetto all'anno precedente, mentre le transazioni sono aumentate del 4,0%
- Le vendite mensili sono aumentate leggermente dello 0,1%, con una diminuzione delle transazioni dello 0,6%
- La spesa per il commercio al dettaglio e i ristoranti ha mostrato un rallentamento, mentre i settori dei servizi hanno registrato una crescita
- I servizi professionali, scientifici e tecnici hanno visto una forte crescita anno su anno nelle vendite (11,9%) e nelle transazioni (8,1%)
- Regioni come New York, Vermont e Minnesota hanno mostrato la crescita più rapida rispetto ad agosto
L'indice fornisce informazioni sulle abitudini di spesa dei consumatori e sulle performance delle piccole imprese in vari settori e regioni.
El índice de pequeñas empresas de Fiserv para septiembre de 2024 se mantuvo estable en 141, lo que indica un gasto constante de los consumidores en pequeñas empresas en Estados Unidos. Los aspectos más destacados incluyen:
- Las ventas de pequeñas empresas crecieron un 1.8% en comparación con el año anterior, mientras que las transacciones aumentaron un 4.0%
- Las ventas mes a mes aumentaron ligeramente un 0.1%, con una disminución del 0.6% en las transacciones
- El gasto en retail y restaurantes se enfrió, mientras que los sectores de servicios vieron crecimiento
- Los Servicios Profesionales, Científicos y Técnicos experimentaron un fuerte crecimiento interanual en ventas (11.9%) y transacciones (8.1%)
- Regiones como Nueva York, Vermont y Minnesota mostraron el crecimiento más rápido en comparación con agosto
El índice proporciona información sobre los patrones de gasto de los consumidores y el rendimiento de las pequeñas empresas a través de varios sectores y regiones.
2024년 9월 피세르프 소기업 지수는 141로 안정세를 유지하며, 미국 내 소기업에 대한 소비자 지출이 지속되고 있음을 나타냅니다. 주요 하이라이트는 다음과 같습니다:
- 전년 대비 소기업 판매는 1.8% 증가하고, 거래는 4.0% 증가했습니다.
- 월간 판매는 약간 0.1% 상승했으며, 거래는 0.6% 감소했습니다.
- 소매 및 레스토랑 지출이 감소했지만 서비스 부문은 성장했습니다.
- 전문, 과학 및 기술 서비스는 판매(11.9%)와 거래(8.1%)에서 강한 연간 성장률을 경험했습니다.
- 뉴욕, 벌몬트, 미네소타 지역은 8월 대비 가장 빠르게 성장했습니다.
이 지수는 다양한 부문과 지역에서 소비자 지출 패턴 및 소기업 성과에 대한 통찰력을 제공합니다.
L'indice des petites entreprises de Fiserv pour septembre 2024 est resté stable à 141, indiquant une consommation constante chez les petites entreprises aux États-Unis. Les points clés comprennent:
- Les ventes des petites entreprises ont augmenté de 1,8 % par rapport à l'année précédente, tandis que les transactions ont augmenté de 4,0 %.
- Les ventes mensuelles ont légèrement augmenté de 0,1 %, tandis que les transactions ont diminué de 0,6 %.
- Les dépenses dans le commerce de détail et dans les restaurants ont ralenti, tandis que les secteurs des services ont connu une croissance.
- Les Services Professionnels, Scientifiques et Techniques ont connu une forte croissance d'une année sur l'autre, avec des ventes (11,9 %) et des transactions (8,1 %) élevées.
- Au niveau régional, New York, Vermont et Minnesota ont montré la croissance la plus rapide par rapport à août.
L'indice offre des aperçus sur les tendances de consommation et la performance des petites entreprises à travers divers secteurs et régions.
Der Fiserv Index für kleine Unternehmen blieb im September 2024 bei 141 stabil, was auf ein konstantes Verbraucherverhalten in kleinen Unternehmen in den Vereinigten Staaten hinweist. Die wichtigsten Highlights sind:
- Die Verkäufe kleiner Unternehmen stiegen im Jahresvergleich um 1,8%, während die Transaktionen um 4,0% zunahmen.
- Monatlich stiegen die Verkäufe leicht um 0,1%, die Transaktionen gingen jedoch um 0,6% zurück.
- Die Ausgaben im Einzelhandel und in der Gastronomie kühlten sich, während die Dienstleistungssektoren ein Wachstum verzeichneten.
- Die professionellen, wissenschaftlichen und technischen Dienstleistungen erlebten ein starkes Wachstum im Jahresvergleich sowohl bei den Verkäufen (11,9%) als auch bei den Transaktionen (8,1%).
- Regional zeigten New York, Vermont und Minnesota im Vergleich zu August das schnellste Wachstum.
Der Index bietet Einblicke in das Verbraucherverhalten und die Leistung kleiner Unternehmen in verschiedenen Sektoren und Regionen.
- Steady consumer spending at small businesses with Fiserv Small Business Index remaining at 141
- Year-over-year small business sales growth of 1.8%
- Year-over-year transaction growth of 4.0%
- Strong growth in Professional, Scientific, and Technical Services with 11.9% year-over-year sales increase
- Positive regional growth in New York (3.5%), Vermont (2.4%), and Minnesota (1.7%) compared to August
- Retail Trade Index declined by 2 points from August
- Month-over-month decline in Retail Trade sales (-1.7%) and transactions (-1.3%)
- Food Services and Drinking Places Index declined by 1 point compared to August
- Month-over-month decline in restaurant sales (-1.0%) and transactions (-0.1%)
- Steep declines in small business sales in Delaware (-5.6%), Alaska (-3.2%), and Kentucky (-2.2%)
Insights
The Fiserv Small Business Index for September 2024 provides valuable insights into consumer spending patterns at small businesses. The steady index at 141 for three consecutive months suggests resilience in consumer spending, which is a positive indicator for small businesses heading into the important fourth quarter and holiday season.
Key takeaways:
- Year-over-year growth in sales (
1.8% ) and transactions (4.0% ) - Shift in consumer spending towards services sectors
- Cooling in retail and restaurant spending
- Strong growth in Professional, Scientific and Technical Services (
11.9% YoY)
The data indicates a changing landscape for small businesses, with opportunities in service-oriented sectors. Investors should note the resilience of consumer spending despite economic pressures, but also be aware of the shifting patterns that may impact different industry segments differently.
The Fiserv Small Business Index reveals interesting trends in consumer behavior and regional variations. The shift towards services spending, particularly in technology, education and healthcare, suggests evolving consumer priorities. This could present opportunities for businesses in these sectors and challenges for traditional retail.
Notable observations:
- Retail Trade index declined 2 points to 144
- Food Services index down 1 point to 125
- Strong growth in Web Search, Libraries and Information Services (
21.5% YoY) - Regional variations with New York showing strong growth (
3.5% MoM)
Investors should consider the implications of these trends on their portfolios, particularly in relation to small-cap stocks in growing service sectors versus those in traditional retail. The regional variations also highlight the importance of geographic diversification in small business investments.
Fiserv Small Business Index is unchanged at 141
Small business sales grew
“The Fiserv Small Business Index delivers a timely and detailed look at the way consumers are spending at small businesses,” said Jennifer LaClair, Head of Merchant Solutions at Fiserv. “This month’s index shows that consumer spending is holding steady, a positive sign as small business owners flip their calendar to the fourth quarter and get ready for the 2024 holiday season.”
Nationally, the seasonally adjusted Fiserv Small Business Index in September was 141, reflecting three straight months of steady consumer spending. On a year-over-year basis, both small business sales (+
“Small business sales ticked forward at a steady pace in September, showing resiliency in consumer spend despite meaningful shifts to spending patterns,” said Prasanna Dhore, Chief Data Officer at Fiserv. “Notably, consumers diverted more spend in the month to specialty trade, technology, education and healthcare services, while retail and restaurant spending growth slowed.”
Retail and Restaurant Spend Cools
Nationally, the Fiserv Small Business Index for Retail Trade was 144, a two-point decline from August. Year-over-year sales (+
On a monthly basis, Retail Trade (-
Food Services and Drinking Places, which includes restaurants, indexed at 125 in September, a 1-point decline compared to August. Year over year, restaurants saw strong growth in both total sales (+
Growth in Services
-
Professional, Scientific, and Technical Services continued seeing growth in sales (+
11.9% ) and transactions (+8.1% ) year over year; month-over-month sales grew (2.1% ) despite transactions slowing (-0.4% ) compared to August. -
Specialty Trade Contractor sales grew (+
4.4% ) year over year while transactions grew (+2.4% ). Month-over-month sales rose (+2.8% ) even as transactions slowed (-1.4% ). -
Additional year-over-year sales growth in service categories included Web Search, Libraries and Information Services (+
21.5% ), Personal and Laundry Services (+2.8% ) and Utilities (+2.3% ); Ambulatory Healthcare (+4.7% ) and Educational Services (+3.9% ) led month-over-month growth.
Regional Trends
-
New York (3.5% ),Vermont (+2.4% ), andMinnesota (+1.7% ) were among the fastest growing states compared to August. States that experienced steep declines includedDelaware (-5.6% ),Alaska (-3.2% ), andKentucky (-2.2% ). -
New York Metro (+3.6% ) andPhiladelphia (+3.5% ) were the strongest performing large cities for small business sales month over month.
About the Fiserv Small Business Index™
The Fiserv Small Business Index is published during the first week of every month and differentiated by its direct aggregation of consumer spending activity within the
Benchmarked to 2019, the Fiserv Small Business Index provides a numeric value measuring consumer spending, with an accompanying transaction index measuring customer traffic. Through a simple interface, users can access data by region, state, and/or across business types categorized by the North American Industry Classification System (NAICS). Computing a monthly index for 16 sectors and 34 sub-sectors, the Fiserv Small Business Index provides a timely, reliable and consistent measure of small business performance even in industries where large businesses dominate.
To access the full Fiserv Small Business Index, visit fiserv.com/FiservSmallBusinessIndex.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20241002676645/en/
Media Relations:
Chase Wallace
Director, Communications
Fiserv, Inc.
+1 470-481-2555
chase.wallace@fiserv.com
Source: Fiserv, Inc.
FAQ
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