New business formation nationwide certainly has its monthly ups and downs, almost as a mirror image of declines and jumps in covid infections, but on balance the data point to recovery and a bright immediate economic outlook.

The latest figures for July show just under 500,000 new business applications nationwide. That is up 1.2% from the June level. Almost half the applications, some 216,000, occurred in the south – effectively the old Confederacy — which for some time now has been the fastest growing region in the country. The Northeast showed the greatest rise from the June level, a 5.3% increase. Though still the most populous region of the country, it accounts for barely 15% of the nationwide applications to start a new business. The West also saw a relatively steep rise from June, 5.1%, and though the least densely…

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