Spending at Small Businesses Rose in July as Consumers Shift Spending Patterns
Tuesday, 13 August 2024, 14:27
Spending at Small Businesses in July
Spending at small businesses rose significantly in July, showcasing changing consumer behaviors as consumers spend more on merchandise. Retail spending overall increased by 4.6%, and retail transactions jumped impressively by 5.8%. General merchandise saw a growth of 10.9%, reflecting strong demand.
Restaurants Experience a Dip
Despite the overall positive trend, restaurant sales faced a challenge, slipping by 1.6%. This highlights a potential shift in consumer preference.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.