The number of active businesses declined by 0.4% (-4,048) in November, the fourth decrease in five months. This was the highest drop in the number of active businesses since May 2020 (-2.8%; -25,517). The contraction of the number of active businesses in November 2022 was attributable to the 0.4 percentage point decrease in the business opening rate. The business closure rate edged down 0.1 percentage points to settle at 4.7%.
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