In May, the business opening rate contracted by 0.2 percentage points to 4.5%. The business closure rate edged up 0.1 percentage points to 4.7%, after holding steady at 4.6% since January. In May, the opening rate was 0.2 percentage points below its 2015-to-2019 historical average, while the closure rate was 0.1 percentage points above its historical average.
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