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Business Closures Not Yet Showing Impact From Insolvency Spike

CANADA DATA
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  • Previously released business insolvency data have shown a particularly strong rise so far this year, climbing 129% Y/Y in Jan before 122% Y/Y in Feb.
  • However, today’s January release for actual business closures suggests the jump in insolvencies hasn’t yet had a meaningful impact on shutting down production, although it should continue to be watched ahead.
  • Specifically, business closures continue to trend higher but have only increased 5% Y/Y (after an average 2% Y/Y through 2023) compared to the much stronger insolvencies increase.

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  • Previously released business insolvency data have shown a particularly strong rise so far this year, climbing 129% Y/Y in Jan before 122% Y/Y in Feb.
  • However, today’s January release for actual business closures suggests the jump in insolvencies hasn’t yet had a meaningful impact on shutting down production, although it should continue to be watched ahead.
  • Specifically, business closures continue to trend higher but have only increased 5% Y/Y (after an average 2% Y/Y through 2023) compared to the much stronger insolvencies increase.