Insolvency Statistics – December 2014
Market Commentary
It looks as though petrol prices are finally dropping. With the cost of crude oil over 40% less now than it was in June, it has taken a while for the cost saving to reach the pumps. US oil prices hit a 5 year low. Happy news for those people with gas guzzlers.
The NZ Dollar dropped against the US Dollar after some good job data in the US. Experts predict that the rate will stay in the 77 cent range unless NZ inflation starts to bite. The strength of the Kiwi was not helped by weak data out of Aussie.
Meanwhile, more people are coming to NZ. The travel and migration statistics showing visitor numbers were up in October when compared to last year. It was certainly encouraging news for the tourism industry who will be hoping that trend will continue through the summer months.
It looks as though the OCR will remain at its current level for a while. Experts are predicting the Reserve Bank will keep rates low for the foreseeable future. Good news for those with mortgages at least.
Dairy prices remain the biggest concern. Fonterra’s auction results have not been good with prices over 50% lower than those achieved in April this year. Farmers will be looking for cost savings and putting off any capital expenditure which is not great news for those providing support services to the industry.
In the UK, the Prime Ministers European woes continue. How that will affect the General Election next year is difficult to predict. His only saving grace appears to be the inability for the opposition parties to organise themselves.
September, October & November Comparison of
Insolvency Appointments 2011, 2012, 2013 & 2014
What the figures are showing?
- There were 224 insolvency appointments in November 2014 which is only 5 appointments less that November 2013. There were 8 receivership appointments, 216 liquidations recorded and no administrations.
- Year to date insolvency appointments for 2014 were 2,319. This is still down on previous years. Liquidations accounted for 2,190 of those appointments.
- Applications made to the High Court to liquidate companies totaled 114 for November 2014. Applications made between January and November 2014 totaled 1,226 of which 862 were made by the IRD.
Year to Date Comparison of Insolvency Appointments 2011 to 2014
