Photo by Marco Bianchetti on Unsplash
The latest data from the Australian Financial Security Authority indicates insolvencies in construction, mining and retail have increased in the past fortnight.
Compared to the last reporting period of 5 October to 18 October, insolvencies in these three sectors spiked 38%, going from 71 total insolvencies to 98 this fortnight.
Out of the 21 sectors – including those not engaged in any remunerated employment – these three sectors made up approximately a quarter of all insolvencies.
Less than a quarter of insolvencies in these three sectors, however, were related to businesses or companies.
Total insolvencies are also down from 409 to 405 when the two reporting fortnights are compared, and are down …
Read the full article at: https://www.savings.com.au/savings-accounts/insolvencies-in-construction-mining-and-retail-spike-38