BALTIMORE–(BUSINESS WIRE)–Oct 18, 2023–
Allianz Trade released today its latest Global Insolvency Report which unveils updated forecasts for 2023 and 2024. According to the worlds leading trade credit insurer, after a small rebound in 2022 (+1%), global insolvencies are set to jump by +6% in 2023 and +10% in 2024.
Waning cash buffers and worsening profitability are putting many sectors at risk
Whats behind this acceleration? The recession in corporate revenues is gaining traction amid lower pricing power and weaker global demand: As of Q2 2023, the revenue recession has been broad-based across all regions for the first time since mid-2020 (-1.9% y/y). This combined with continued high costs is squeezing profitability. As a re…
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