U.S. Business Starts Fall 28.5% in Q4 of 2020

The United States economy continues to be affected by the Coronavirus pandemic, as evident by the decline in applications to start new businesses by 28.5% during the fourth quarter (Q4) of 2020, Reuters reported.

Data by the U.S. Department of Commerce said on Thursday that applications to start new businesses fell by 28.5% to a seasonally adjusted 1.115 million in Q4 of 2020.

In addition, the Department of Commerce’s Census Bureau will switch from issuing the report on a quarterly basis to a monthly basis, with January data set to be issued on February 10.