In August, the business closure rate rose 0.2 percentage points to 4.8%, following a decline by a similar amount in July. The closure rate was 0.2 percentage points above its 2015-to-2019 monthly historical average in August. The business opening rate held relatively steady at 4.6% for the third consecutive month in August 2024 and was 0.1 percentage points below its historical average.
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