Fiserv Small Business Index Monthly Overview April 2025

The April 2025 Fiserv Small Business Index reveals a slowdown in consumer spending at small businesses, with a focus on nondiscretionary goods. Key metrics show a modest increase in sales and transactions, but overall spending growth has declined due to inflation and budget-conscious consumer behavior. This report analyzes the shifts in spending patterns, highlighting the performance of various subsectors and the impact of trade policy uncertainty on small business sales.