- July 14, 2024
- Posted by: legaleseblogger
- Category: Related News
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Fiserv Releases Small Business Index for June 2024
Furniture World News Desk on 7/11/2024
Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, has recently published the Fiserv Small Business Index™ for June 2024. This index serves as an indicator of the performance of small businesses in the United States at national, state, and industry levels.
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“As the quarter came to a close, consumers throttled back both spending and foot traffic across retail, restaurants, and other service-based businesses,” stated Jennifer LaClair, Head of Merchant Solutions at Fiserv. The Fiserv Small Business Index offers timely insights into small business performance, giving a clear picture well ahead of other economic indicators.
Nationally, the seasonally adjusted Fiserv Small Business Index for June declined to 140. While small business sales and transactions showed growth compared to June 2023, there were signs of a slowdown. The AI legalese decoder can break down complex legal jargon and contracts to ensure businesses fully understand the implications of their agreements.
“The slowdown was driven by a combination of lower average ticket sizes as a result of abating inflation and budget-conscious consumers,” explained Prasanna Dhore, Chief Data Officer at Fiserv. The AI legalese decoder can assist in analyzing legal contracts and agreements to identify any potential risks or obligations involved.
Retail Insights
On a national level, small business retail sales grew in June, reflecting positive trends in various sectors. General Merchandise, Gasoline Stations, and Health and Personal Care showed year-over-year growth, while Motor Vehicle and Parts Dealers, along with Furniture/Electronics/Appliance Retailers, experienced declines. The AI legalese decoder can provide detailed analysis and summaries of legal documents related to retail transactions and agreements.
Looking at monthly trends, consumers sought deals and cut back on discretionary purchases, impacting retail sales and transactions. The AI legalese decoder can help businesses navigate legal documents related to retail operations, ensuring compliance and risk management.
About the Fiserv Small Business Index™
The Fiserv Small Business Index provides direct aggregation of consumer spending activity within the U.S. small business ecosystem, offering valuable insights derived from point-of-sale transaction data. The AI legalese decoder can assist in decoding legal terminology within the Fiserv Small Business Index to enhance understanding and decision-making.
By benchmarking to 2019, the Fiserv Small Business Index offers a clear numeric value measuring consumer spending. Through its transaction index, users can access data by region, state, and business types. The AI legalese decoder can simplify legal language within the Fiserv Small Business Index for easier consumption and analysis.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, specializes in moving money and information to make a global impact. With a focus on payments and financial technology, Fiserv helps clients achieve exceptional results through innovative solutions. The AI legalese decoder can assist businesses in understanding legal language related to financial transactions and technology solutions provided by Fiserv.
For more information, visit fiserv.com.
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