FSBI anticipates March retail surge weeks ahead of government data

The Fiserv Small Business Index (FSBI) reported a notable uptick in small business activity for March, which was confirmed by the U.S. Census Bureau’s MARTS report, released two weeks later.

Highlights:

• Consumers shifted from vehicle maintenance to new car purchases in anticipation of tariffs.
• Compared to February, small business restaurant sales surged 2.7%, while overall restaurant sales grew 1.8%.
• Small business food and beverage stores, which are typically more price inelastic than other areas, saw a +2.0% MoM increase in foot traffic for March.

Note: The Fiserv Small Business Index refreshes with updated data on the 2nd of each month

Disclaimer: Small businesses are defined by the U.S. Small Business Administration definitions and extrapolated to reflect total U.S. sales and distribution. The Fiserv Small Business Index does not reflect Fiserv financial performance.