AXIOS January 18, 2024
The Midwest and Mountain West are America’s latest new-business hotspots, a new Axios analysis finds.
Why it matters: New business applications — which rose 7.4% nationally between December 2022 and December 2023 — are an excellent indicator of economic sentiment. Few people try to start a company when they foresee bad times ahead.
- Breaking down this data state by state can offer a regionalized barometer of economic sentiment across the country.
Driving the news: Colorado (+115%), North Dakota (+37.7%) and Iowa (+33.7%) had the highest year-over-year change in new business applications between December 2022 and December 2023, according to seasonally adjusted Census Bureau data.
- Georgia (-9.9%), Louisiana (-8.6%) and Mississippi (-6.4%) had the largest decline in growth. ...
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