June 10 (Reuters) – Applications to start new U.S. businesses rose in May as economic activity continued to accelerate.
The Commerce Department said on Thursday that business applications increased 1.2% to a seasonally adjusted 500,219 last month. The data is derived from business applications for tax identifications.
There were a seasonally adjusted 52,499 applications from corporations, down 0.8% from April. Applications for businesses with planned wages totaled 57,000, an increase of 0.9% from the prior month.
Overall, business applications rose in three of four U.S. regions last month and were higher across most…