Less consumer spending boosts insolvency rates

📆 9/20/2023 12:37 PM
📰 SkyNewsAust

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Personal insolvencies have been on the rise this year. One significant factor is the increase in interest rates. Another contributing element is a decline in consumer spending. The economy is also adjusting from the substantial government stimulus provided during the COVID-19 pandemic. Even so, insolvencies remain more than 50 per cent below pre-COVID levels, but they are gradually climbing each month.

One significant factor is the increase in interest rates.The economy is also adjusting from the substantial government stimulus provided during the COVID-19 pandemic. Even so, insolvencies remain more than 50 per cent below pre-COVID levels, but they are gradually climbing each month.

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