Insolvency Insights - Analysis of ASICs Latest External Administration Appointments Statistics from October 2014
At 724 companies, October 2014 recorded the lowest number of companies entering external administration since April 2014 according to the latest figures released by ASIC. Overall, 7,515 companies have entered external administration in 2014, down 18.45% on 2013.
In this issue of Insolvency Insights, we focus on the key issues and trends shaping the hospitality and licensed venues sector in Australia. From declining alcohol consumption and changing consumer tastes to ongoing industry consolidation and regulatory reforms, we discuss how these issues will affect operators in 2015 and beyond.
According to the NAB Monthly Business Survey, business confidence further eroded in November (to +1 from +5 in October) and levels are varied across different industries, with construction the most positive sector.
In line with forecasts, the unemployment rate crept up to 6.3% in November from 6.2% the previous month, marking the highest rate of unemployment in Australia since September 2002. Job advertisements rose a further 0.7% (seasonally adjusted) month-on-month in November — the sixth consecutive monthly rise.