Shutdowns were for 45% of the drop in nonrestaurant small-business revenue

See States Reopened, but Covid-19 Fears Threaten to Keep Consumers Away: People’s feelings about the pandemic matter more to potential economic recovery than government orders, research suggests by Jo Craven of The WSJ. 

Given the numbers below, it the headline might be true but it still appears that shutdowns made things alot worse.

Excerpt: 

"a separate study by economists at the Federal Reserve Bank of Chicago explicitly tracked revenue and spending as well as mobility and found something similar.

That study linked county-level stay-at-home orders to cellphone records and consumer spending in the U.S. from March 1 to April 17 of last year."

"They also found that mobility measures didn’t fully capture the drop in spending caused by lockdown restrictions.

Shutdowns were responsible for 16% of the drop in visits to nonessential businesses, the study found, but 24% of the drop in restaurant revenue and 45% of the drop in nonrestaurant small-business revenue."