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Intuit Indexes: Small Business Employment Declined Since May; Revenues Fall For Seventh Consecutive Month

Stocks in this article: INTU

“The decline in small business revenue is consistent with the decline in small business employment over roughly the same period,” said Woodward. “During the recession, small business revenue fell a dramatic 13 percent, but then recovered strongly. The rise in revenue from the lowest point in the recession – April 2009 – to February 2012 was 15 percent, which surpassed even the previous peak in revenue. Unfortunately, we’ve seen only a decline these past seven months.”

     
  September Change in
Sector   Revenue (%)
All   -0.3
Construction   -0.8
Accommodation, food services, and drinking places   -0.5
Professional, scientific, and technical services   -0.5
Retail trade   -0.5
Health care and social assistance   -0.2
Other services   -0.1
Real estate and rental and leasing   -0.1

The Intuit Small Business Revenue Index is based on data from more than 100,000 small businesses, a subset of the total QuickBooks Online financial management user base.

By industry, the September Revenue Index indicates that construction saw the biggest decline, at 0.8 percent, followed by retail, professional services, and accommodation and food services, each declining by 0.5 percent. The real estate and health care industries saw the smallest declines, at 0.1 and 0.2 percent respectively. The health care sector has seen the biggest continual decline, falling 6.5 percent since December 2011.

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