Tuesday, May 12, 2009

Bankruptcies still heading up

This just in: Personal bankruptcies in Canada up 57% in March from a year earlier.

There were 10,578 personal bankruptcies filed during the month, up from 6,736 in March 2008, acording to the federal Office of the Superintendent of Bankruptcy.

On a monthly basis, consumer insolvencies were up 17.3% in March, from 9,020 in February.

I suspect bankruptcies are a lagging indicator - one of those stats that continue to haunt us even after the economy has turned the corner. Anyone know for sure?

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