Insolvency Insights - Analysis of ASIC's July - August 2013 External Administration Appointments Statistics
The ASIC figures have indicated that so far in 2013, 7,312 companies have entered external administration, a record for the first eight months of a year since statistics commenced in 1999.
Unemployment also continued to trend upwards. It was steady in July but added 0.1% in August to 5.8%, just 0.1% off the peak seen during the Global Financial Crisis.
During the period we saw businesses under the most pressure as being in the building and construction, manufacturing, agriculture, retail, mining and mining services sectors.
Over the past year, there has been an increase in office vacancy rates at every measured capital city, with the national vacancy rate at its highest level since the first quarter of 1999.
There is initial evidence that business conditions are improving with confidence levels rising, although the impact on insolvency levels for the final months of 2013 is too early to tell.