Spending at small retailers in the U.S. slowed in July from the same time last year, reaching the lowest growth level for the last 12 months, according to a new report.
The study comes as overallretail sales rose in July for the first time in four months.
The report from SpendingPulse and released by MasterCard Advisors, said small business retail spending levels were at 6 percent in July, down from 8.3 percent at the same time last year. July's sales figure was also down from this June's 8 percent.
Despite the lower number, retail experts say there's little cause for concern.
"I don't think you can read that much into this," said Michael McNamara, VP of MasterCard SpendingPulse and a retail analyst.
"I would say that things are holding their own with no major problems," McNamara added. "In fact, small businesses are still outpacing bigger retailers in sales."