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Construction's failure rate slows

24 May 12 There has been a slight improvement in the health of the construction industry over the past year, according to an analysis of failures by information services company Experian.

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Hurray!

The building and construction sector experienced 249 business insolvencies in April 2012, according to Experian’s analysis, which is 14% fewer than in April 2011.

The seven failures in the building materials sector was a 12.5% improvement on April 2011.

Experian’s insolvency index gives each business sector a financial score. Building and construction’s score has improved year-on-year from 82.22 to 82.70.

The percentage of the construction businesses failing declined from 0.18% to 0.15%.

Across all industries, a total of 1,564 businesses failed during April 2012, representing 0.08% of the business population.  In comparison, 1,808 firms failed in April 2011, representing 0.10% of the business population.

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