One statistic that didn’t send out a positive message last week was the
first quarter report on insolvencies by FGS Consulting. The figures show that with 469 insolvencies in the first quarter of 2010, this represents an increase of 34% on the 351 recorded in the same period last year. [In line with Rossa White’s recent
discussion of the use of Irish economic statistics it is not clear why an annual comparison of the figures is made.]
However, the report also tells us that there were 435 failures in the final three months of 2009, so the quarterly change is an increase of insolvencies of just under 8%. Data covering the period 2004 to 2009 are also available from FGS in
this report with the Q1 2010 update available
here.
Here’s a graph of the index FGS produce
This is not a pretty picture. However we should note a couple of things.
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