Insolvency Insights - Analysis of ASIC's February 2013 External Administration Appointment Statistics
Following a traditional lull in insolvencies over January, February saw 960 external administrations - the second highest monthly figure on record for the month of February.
While these early external administration rates do not augur well for the year ahead, the monthly figure is down 14.5% on the same time last year (the highest February on record).
February's economic data was positive overall, indicating business conditions are starting to show signs of improvement. While consumer confidence and key economic indicators appear to be on the rise, we believe the recovery is patchy. With uncertainty continuing internationally, particularly in Europe, the economy remains exposed to unforeseen macroeconomic shocks.