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Phoenix citizens spending more at small businesses

According to Phoenix Business Journal, Phoenix consumers are spending more at small businesses and restaurants than ever before.

JPMorgan Chase Institute release its Local Consumer Commerce Index, which measures monthly year-over-year consumer spending.

The index indicated that between December and March, Phoenix’s everyday spending was slightly higher at 0.1 percent.

However in the month of March, Phoenix consumers spent an increase of 3.84 percent at restaurants and 5.13 percent at small businesses.

Consumers are spending less money at medium and large sized businesses, coming in at a negative 1.51 percent and negative 1.43 percent respectively.

It also showed a 3.56 percent increase in consumers aged 25-34 and 2.87 percent increase in consumers aged 65 and over.

According to the index, the Phoenix city area shows a 1.15 percent positive growth.

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