The number of company liquidations and individuals becoming insolvent in England and Wales decreased in the first quarter to the lowest level in five years, indicating that the economy is gaining strength and households' personal finances are improving.
The number of corporate liquidations, on a seasonally adjusted basis, fell by 15.8 percent annually to 36,19 in the first quarter, the lowest level since the second quarter of 2008, preliminary estimates from the Department of Business, Innovation and Skills showed Friday. Compared to the fourth quarter, the number of companies granted insolvency was lower by 5.3 percent.
At the same time, personal insolvencies, on an unadjusted basis, fell sharply by 12.9 percent from the first quarter of 2012, hitting the lowest level since the first quarter of 2008. Sequentially, their number dropped by 1.8 percent.
The U.K. economy expanded at a faster-than-expected rate of 0.3 percent in the first quarter and averted a triple-dip recession, largely underpinned by an expansion in the dominant service sector even in the face of austerity program.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.