March numbers – another indicator insolvencies are on the decline
Insolvency statistics for March 2013 have hit the wires, and March 2013 was a decrease on the previous month, March 2012 and the average of the previous five Marchs.
There were 918 corporate insolvency appointments in March 2013, a 10% decrease from 2012′s March total of 1,104. It is also a 1% decrease from the average of the previous five Marchs.
This has been the third time in the last 12 months that the monthly number has dipped below the average of the previous 5 corresponding months; June 2012, December 2012 and now March 2013. June 2012 was the first decrease below the 5 month average since March 2008, (just before we started to see the effects of the GFC on insolvency numbers).
Geographically, NSW and QLD posted decreases when compared to March 2012 and the average of the previous 5 Marchs. Most significant was QLD with 162 insolvencies for March 2013 which was a 29% decrease compared to March 2012 and 9% off the average of the previous 5 Marchs.