- The Fiserv Small Business Index for June 2025 declined two points to 148, indicating a slowdown in consumer activity.
- Year-over-year small business sales grew by 4.4%, but there was a 1.4% decline from May 2025.
- Service sector sales outpaced goods, with notable growth in Food Manufacturing and Professional Services.
Fiserv, Inc. (FI, Financial), a leading provider of payment and financial services technology, reported a two-point drop in its Small Business Index for June 2025, bringing the index to 148. This decline reflects decreased consumer engagement from the previous month amidst ongoing economic uncertainty. Despite this monthly decline, small businesses enjoyed a robust 4.4% increase in sales year-over-year.
The Fiserv data also highlighted differing trends within the small business sector. Foot traffic grew year-over-year by 2.2% but fell month-over-month by 2.0%, mirroring the downward trend in sales. Retail sales saw a modest 1.7% uptick from June 2024, although they declined by 1.7% from May 2025. The only retail subsector to post month-over-month growth was Food & Beverage Retail, which increased by 0.9%.
Service-based businesses continued to lead growth in 2025, with a 5.2% increase compared to the same period last year, outpacing the 2.3% rise in goods. Key service areas such as Food Manufacturing and Professional Services posted impressive year-over-year gains of 11.7% and 9.0%, respectively.
Regionally, smaller states like Alabama, North Dakota, and Alaska showed significant month-over-month sales growth. In contrast, larger states including California, New York, and Texas experienced declines. Among major metropolitan areas, San Francisco and Atlanta led year-over-year growth, while Boston was notable for its positive month-over-month performance.
The Fiserv Small Business Index is a crucial tool for understanding consumer spending dynamics, leveraging data from about two million small businesses across the U.S. This index is based on real transaction data, providing insights across sectors and regions.
Fiserv (FI, Financial) continues to be a significant player in the financial technology sector, featuring on the S&P 500 Index and recognized by Fortune® and TIME Magazine for its influence and innovation.
