NEWS FLASH! February 6, 2008:
Canadian Insolvencies Rose by 2.1 % for the Year Ended December, 2007 compared with the previous year.

Consumer Bankruptcies were up 0.7% compared with the previous year.

Business Bankruptcies were down by 6.6% compared with the previous year.

Proposals rose by 10.0% compared with the previous year.

The regional disparity continues. In the West insolvencies were down 16.5% for 2007, while in the East they were up by 5.0% in 2007. These statistics, for the West, reflect the strong demand and high prices for petroleum, wheat, metals and other commodities, driven by fast-growing Asian economies like China and India.

In eastern Canada the predominant influence is weak demand and profitability for manufacturers, driven by a slowing U.S. economy, a high Canadian dollar and stagnation in the region’s big forest-products industry.

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