NEWS FLASH! February 29, 2008:
Canadian Insolvencies Rose by 3.9 % for the Month of January, 2008 compared with the Same Month in 2007.

Consumer Bankruptcies were up 4.0% compared with the previous year.

Business Bankruptcies were down by 1.1% compared with the previous year.

Proposals rose by 5.1% compared with the previous year.

The regional disparity continues. In the West insolvencies were down 7.7% for January, 2008 compared with January, 2007. In the East they were up by 6.8% for the same period. 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.

For more information and more detailed analysis please refer to this site.

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