Insolvency Index - Insolvency Index Results - Quarter Three 2008Insolvency index results - quarter three 2008
The base point for the index is a score of 100 in quarter 3 2007 when the economy was thought to be in good shape before the collapse of Northern Rock and before the housing market got into serious difficulty. At that time the national insolvency statistics showed that corporate insolvencies had reached an all time low. When the index returns to near this level the good times will be back.
In quarter 3 2008, the mw-w.com index shows that corporate insolvencies were up 47pc on the same quarter a year ago and up 13pc on the previous quarter.
However, the index masks wide variations at county level with the numbers of corporate insolvencies actually dropping in Cambridgeshire and increasing by almost a factor of 3 in Suffolk. Such variations do need to be viewed with caution as the absolute number of insolvencies by County are quite small and two or three insolvencies could cause a large swing.
With a recession priced into the stock markets it would be surprising if the index didn't increase from the current level but business managers can still take action to avoid their company becoming a casualty of the downturn.
Experience has shown that early action to match costs to revenue can make the difference between survival and failure.
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Statistics released in October 2008
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2007
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Cambs
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Norfolk
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Suffolk
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Total
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Qtr 3
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19
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11
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6
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36
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2008
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Qtr 2
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14
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15
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18
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47
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Qtr 3
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15
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22
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16
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54
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MW-W.com index
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147
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Increase on previous quarter
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13%
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Data: All corporate insolvencies except compulsory liquidations as advertised in Stubbs Gazette and the public notices in the principal local newspapers.
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