Small businesses are set to be a drag on economic growth in the June quarter, as new data from cloud accounting provider MYOB show the sector underperforming against even sluggish headline economic activity.
On a benchmark index from plus five (outperforming the overall economy) to minus five (underperforming the overall economy), the indicator showed small business activity around minus two in May.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
