In June, the business opening rate dropped by 0.4 percentage points to 4.2%, its largest decline since August 2021, while the business closure rate rose 0.2 percentage points for the second consecutive month. The closure rate was 5.0%, its highest level since June 2020 when it reached 7.1%. In June 2024, the opening rate was 0.5 percentage points below its 2015-to-2019 monthly historical average while the closure rate was 0.4 percentage points above its monthly historical average.
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