Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada.
The improving trend in the business environment across Australia and other advanced economies is expected to come to a halt this year. Changes in insolvencies predominantly depend on movements in the business cycle.
GDP growth in Australia for 2017 is expected to be 2.8%, which is slightly down on the 2016 rate of three per cent. This drop in the rate of growth is partly responsible for the slig…
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