Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority, today announced the release of the SB Authority Index of small business indicators for October 2012 which has reached 114.97 points. Newtek’s proprietary merchant processing volume, retail sales, and new business formations led the increase. As a result, the SB Authority index is up .92% from September 2012.
President and CEO, Barry Sloane said, “Despite sluggish job growth, consumer spending as depicted by merchant processing volume and retail sales continues to push the economy forward. It is questionable whether discounting and early store promotions will cannibalize December sales for the holiday season.”
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