BUSINESS FAILURES DOWN 17 PERCENT DURING 1994, ACCORDING TO DUN & BRADSTREET REPORT; Dollar Liabilities Decline Sharply by 38.5 Percent Because of Strong Business Conditions Across the United States.WILTON Wilton, town, United States Wilton, town (1990 pop. 15,989), Fairfield co., SW Conn.; settled c.1701, inc. 1802. It is a residential and agricultural town. Wilton, town, England Wilton, town (1991 pop. , Conn.--(BUSINESS WIRE)--Feb. 23, 1995--U.S. Business failures fell 17 percent during 1994 to 71,520 from 86,133 the previous year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. The Dun & Bradstreet Brad·street , Anne Dudley 1612-1672. English-born colonial poet who wrote several collections of verse, including The Tenth Muse Lately Sprung Up in America (1650). Corporation. Even more significantly, associated dollar liabilities dropped 38.5 percent to $29.3 billion, the lowest level since 1984. At the record peak, liabilities were nearly $97 billion in 1991. "The relatively low level of business failures during 1994 reflects strong business balance sheets in almost all regions," said Dr. Joseph W. Duncan Duncan, city (1990 pop. 21,732), seat of Stephens co., SW Okla., in an oil, farm, and cattle area; inc. 1892. There is an oil industry, and electronics, concrete, and apparel are manufactured. During the late 19th cent. , vice president and corporate economist This article is about the profession. For the news publication, see The Economist. An economist is an expert in the social science of economics.[1] for The Dun & Bradstreet Corporation. "Businesses in virtually all sectors flourished as the strong cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. upturn continued through the year's end." Business Failures and Dollar Liabilities Declined in 1994, But There Are Indications Current Business Upswing Upswing An upward turn in a security's price after a period of falling prices. May Be Peaking The number of business failures and associated liabilities declined during 1994, mirroring similar improvement during 1993. "The past two years have been notable in that every sector in nearly all geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. regions has shown sharp declines in the number of business failures," Duncan said. "The driving force behind these improvements has been a combination of readily available capital, strong demand for goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. and excellent cash flow in most businesses." Although business failures declined in all business sectors overall and in each individual geographic region, Duncan noted that regionally-specific increases in failures in some sectors may be an indication that the current upswing is peaking. "Current factors point to continued strong business performance. However, it is possible that rising interest rates and inflationary in·fla·tion·ar·y adj. Of, associated with, or tending to cause inflation: inflationary prices; inflationary policies. Adj. 1. pressures will initiate INITIATE. A right which is incomplete. By the birth of a child, the husband becomes tenant by the curtesy initiate, but his estate is not consummate until the death of the wife. 2 Bouv. Inst. n. 1725. a dampening impact on U.S. businesses," he said. NOTE TO EDITORS The 1994 figures are labeled "preliminary" because the level of liabilities is continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. adjusted as court proceedings evolve Evolve may refer to several terms:
Dun & Bradstreet continually monitors the status of bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most proceedings and considers the liability figures to be firm after one year. Dollar Amount of Liabilities The dollar amount of liabilities associated with business failures fell steeply steep 1 adj. steep·er, steep·est 1. Having a sharp inclination; precipitous. 2. At a rapid or precipitous rate: a steep rise in salaries. 3. a. to $29.3 billion, down 38.5 percent from $47.7 billion the previous year. Three regions -- New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , the West North Central states and the West South Central states The West South Central States form one of the nine geographic divisions within the United States that are officially recognized by the United States Census Bureau. Four states comprise the division: Arkansas, Louisiana, Oklahoma, and Texas. -- registered declining dollar liabilities of more than 49 percent. The slowest rate of decline was in the East South Central region, where liabilities for 1994 were 19.6 percent lower than 1993. "Although this is a slower rate of decline than last year's 49-percent drop from 1992, the trend is still quite positive," Duncan said. Strong Upturn in All Industry Sectors Evident The number of failures dropped significantly in all industry sectors during 1994, with the exception of nonclassifiable establishments, where there was only a 3 percent reduction with 12,303 failures nationwide. Manufacturers experienced the strongest results, reporting 4,643 failures, down 24.7 percent from 1993. Wholesale failures, at 4,635, were down 22.9 percent. Failures in the mining and real estate/financial services sectors declined to 241 and 3,907, respectively, down 22.3 percent and 21.7 percent. Transportation and public utilities failures dropped 21.1 percent to 2,448. Failures in the retail trade industry fell 19.7 percent to 12,575, and agriculture, forestry forestry, the management of forest lands for wood, water, wildlife, forage, and recreation. Because the major economic importance of the forest lies in wood and wood products, forestry has been chiefly concerned with timber management, especially reforestation, and fishing failures declined by 18.2 percent to 1,872. "The strong performances in the manufacturing and wholesale sectors are very encouraging for the short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. future, as is a 21.3-percent decline in construction-sector failures," Duncan said. But he noted that the services sector, where failures fell 15.5 percent to 20,595, did not fair as well as the general economy. "Many businesses are investing in new capital equipment and new inventory to take advantage of the current upswing, but apparently not all benefits have trickled down to the consumer level," he said. Regional Analysis: All Regions Report Fewer Failures Business failures fell in all U.S. census census, periodic official count of the number of persons and their condition and of the resources of a country. In ancient times, among the Jews and Romans, such enumeration was mainly for taxation and conscription purposes. regions, with the strongest improvements in New England, with 3,757 failures representing a 29.6 percent drop from 1993. The West South Central and the Pacific regions both improved more slowly that the rest of the nation, with 14.5 percent and 12.8 percent fewer failures, respectively. "States relying on natural resources and labor-intensive la·bor-in·ten·sive adj. Requiring or having a large expenditure of labor in comparison to capital: "Intrigue and subversion are labor-intensive undertakings" George F. Kennan. industry continue to struggle," Duncan noted, pointing out that Arkansas posted Arkansas Post (är`kənsô), community on the Arkansas River, SE Ark. Founded by the French in 1686 as a trading post, it is the oldest white settlement in the state; it became the capital of the Arkansas territory in 1819. a 96.2 percent increase to 365 business failures, and that Alaska Alaska (əlă`skə), largest in area of the United States but third smallest (exceeding only Vermont and Wyoming) in population, occupying the northwest extremity of the North American continent, separated from the coterminous United States and Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. also saw increased failure rates of 12.8 percent and 5.8 percent, respectively, in comparison with 1993. Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. saw
almost no change as failures dropped 1.6 percent to 657."This may reflect increasing regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. pressures on mining, agriculture, fishing and forestry," Duncan added. "However it is difficult to point to a trend without additional data." Businesses in the New England states performed very strongly during the period, with failures decreasing by 29.6 percent to 3,757 and associated liabilities dropping 49.1 percent. Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). improved most sharply, posting a 48.1-percent decrease with 573 failures. Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). also fared well, with failures dropping by 38.7 percent and 34 percent, respectively. Failures also declined sharply in the Mountain states The Mountain States (also known as the Mountain West) form one of the nine geographic divisions of the United States that are officially recognized by the United States Census Bureau. , dropping 23.4 percent to 4,293 in comparison with the previous year. Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and Utah showed the strongest improvements, with failure rates dropping by 32.1 percent, 26.9 percent and 26.7 percent, respectively. "States across the Southwest Southwest or south west is the ordinal direction halfway between south and west, the opposite of northeast. Southwest or south west may also refer to:
All other regions reported improvements close to the national average. Failure rates in the East South Central states The East South Central States constitute one of the nine geographic divisions within the United States that are officially recognized by that country's census bureau. Four states comprise the division: Alabama, Kentucky, Mississippi, and Tennessee. dropped 19.6 percent for the year, with all states reporting steep reductions. The Mid Atlantic Mid Atlantic can mean:
The South Atlantic region reported 17.3 percent fewer business failures than in 1993, with sharp declines in Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). , and Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and . South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. was an exception, posting 499 business failures in 1994 -- a 25.7-percent increase over 1993. Most states in the West North Central region fared well, but sharp reductions in failures in North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). , Minnesota Minnesota, state, United States Minnesota (mĭn'ĭsō`tə), upper midwestern state of the United States. It is bordered by Lake Superior and Wisconsin (E), Iowa (S), South Dakota and North Dakota (W), and the Canadian provinces and Nebraska Nebraska (nəbrăs`kə), Great Plains state of the central United States. It is bordered by Iowa and Missouri, across the Missouri R. (E), Kansas (S), Colorado (SW), Wyoming (NW), and South Dakota (N). were offset by lesser declines in South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). and Iowa. Although all East North Central states reported reductions, they also lagged, impacted by declining failure rates in Ohio and Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee of only 6.7 percent and 4.2 percent, respectively. Dun & Bradstreet's business failure statistics include businesses that ceased operation following assignment or bankruptcy; ceased operation with losses to creditors after such action as foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. or attachment See attach a file. ; voluntarily withdrew leaving unpaid obligations; were involved in court actions such as receivership receivership In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. , reorganization The process of carrying out, through agreements and legal proceedings, a business plan for winding up the affairs of, or foreclosing a mortgage upon, the property of a corporation that has become insolvent. or arrangement; or voluntarily compromised with creditors. The Dun & Bradstreet Corporation is the world's largest marketer of business information and related services, with worldwide revenue of $4.9 billion in 1994. (see attached tabular tab·u·lar adj. 1. Having a plane surface; flat. 2. Organized as a table or list. 3. Calculated by means of a table. tabular resembling a table. data) -0- CONTACT: The Dun & Bradstreet Corp. Al Leach Allan F. Leach (born December 9, 1935 in Toronto, Ontario) is a former transportation executive and politician in Ontario, Canada. In the 1970s, 1980s, and early 1990s he was the head of GO Transit and later the Toronto Transit Commission. , 203/834-4274 -0-
THE DUN & BRADSTREET CORPORATION, ECONOMIC ANALYSIS DEPARTMENT
BUSINESS FAILURES REGIONAL ANALYSIS, DECEMBER 1994 YEAR TO DATE
Fails Fails
Last This
Year Year Change
------ ------ ------
NEW ENGLAND 5,339 3,757 -29.6%
Maine 383 334 -12.8%
New Hampshire 621 410 -34.0%
Vermont 174 131 -24.7%
Massachusetts 2,712 2,097 -22.7%
Connecticut 1,103 573 -48.1%
Rhode Island 346 212 -38.7%
MID ATLANTIC 12,903 10,458 -18.9% New York 6,924 5,533 -20.1% New Jersey 2,848 2,182 -23.4% Pennsylvania 3,131 2,743 -12.4% E. N. CENTRAL 9,097 7,768 -14.6% Ohio 2,131 1,988 -6.7% Indiana 1,098 904 -17.7% Illinois 2,092 1,749 -16.4% Michigan 2,554 1,956 -23.4% Wisconsin 1,222 1,171 -4.2% W. N. CENTRAL 4,443 3,702 -16.7% Minnesota 918 723 -21.2% Iowa 508 473 -6.9% Missouri 1,231 1,064 -13.6% North Dakota 145 89 -38.6% South Dakota 174 168 -3.4% Nebraska 398 315 -20.9% Kansas 1,069 870 -18.6% S. ATLANTIC 12,978 10,734 -17.3% Maryland 1,549 1,614 4.2% Delaware 138 88 -36.2% District of Col. 197 167 -15.2% Virginia 1,741 1,455 -16.4% West Virginia 316 297 -6.0% North Carolina 1,194 1,051 -12.0% South Carolina 397 499 25.7% Georgia 2,355 1,958 -16.9% Florida 5,091 3,605 -29.2% E. S. CENTRAL 3,217 2,585 -19.6% Kentucky 845 706 -16.4% Tennessee 1,210 957 -20.9% Alabama 839 669 -20.3% Mississippi 323 253 -21.7% W. S. CENTRAL 9,389 8,026 -14.5% Arkansas 186 365 96.2% Oklahoma 1,443 1,166 -19.2% Louisiana 668 657 -1.6% Texas 7,092 5,838 -17.7% MOUNTAIN 5,606 4,293 -23.4% Montana 174 179 2.9% Idaho 351 277 -21.1% Wyoming 90 84 -6.7% Colorado 1,548 1,311 -15.3% New Mexico 449 328 -26.9% Arizona 2,069 1,405 -32.1% Utah 356 261 -26.7% Nevada 569 448 -21.3% PACIFIC 23,161 20,197 -12.8% Alaska 108 111 2.8% Hawaii 306 258 -15.7% Washington 2,032 2,000 -1.6% Oregon 969 1,025 5.8% California 19,746 16,803 -14.9%
====== ====== =====
86,133 71,520 -17.0%
-0-
THE DUN & BRADSTREET CORPORATION, ECONOMIC ANALYSIS DEPARTMENT
BUSINESS FAILURES REGIONAL ANALYSIS, DECEMBER 1994 YEAR TO DATE
Liabilities Liabilities
Last Year This Year Change
------------- -------------- -------
NEW ENGLAND $3,805,671,384 $1,937,516,803 -49.1%
Maine $78,061,032 $43,957,964 -43.7%
New Hampshire $298,380,386 $119,901,508 -59.8%
Vermont $292,697,630 $56,222,555 -80.8%
Massachusetts $1,262,198,032 $994,496,804 -21.2%
Connecticut $1,778,922,654 $673,546,301 -62.1%
Rhode Island $95,411,650 $49,391,671 -48.2%
MID ATLANTIC $14,967,485,966 $7,723,471,927 -48.4% New York $11,538,704,311 $5,284,854,297 -54.2% New Jersey $1,888,315,401 $1,586,875,121 -16.0% Pennsylvania $1,540,466,254 $851,742,509 -44.7% E. N. CENTRAL $3,865,991,637 $2,686,372,936 -30.5% Ohio $1,662,830,903 $867,136,855 -47.9% Indiana $189,361,546 $108,602,798 -42.6% Illinois $918,484,320 $427,379,045 -53.5% Michigan $539,541,060 $394,549,005 -26.9% Wisconsin $555,773,808 $888,705,233 59.9% W. N. CENTRAL $984,467,434 $493,320,316 -49.9% Minnesota $176,212,282 $133,449,177 -24.3% Iowa $123,796,773 $28,543,230 -76.9% Missouri $191,700,501 $143,477,148 -25.2% North Dakota $3,238,120 $2,438,803 -24.7% South Dakota $14,464,418 $14,853,261 2.7% Nebraska $38,193,632 $27,827,366 -27.1% Kansas $436,861,708 $142,731,331 -67.3% S. ATLANTIC $4,454,761,770 $3,557,122,909 -20.2% Maryland $303,051,917 $856,425,338 182.6% Delaware $12,426,453 $1,079,232 -91.3% District of Col $140,530,113 $764,450,985 444.0% Virginia $640,501,037 $412,629,727 -35.6% West Virginia $113,054,715 $81,319,586 -28.1% North Carolina $423,789,155 $278,670,089 -34.2% South Carolina $4,503,412 $156,618,501 3,377.8% Georgia $558,693,773 $251,856,108 -54.9% Florida $2,258,211,195 $754,073,343 -66.6% E. S. CENTRAL $612,218,471 $492,057,078 -19.6% Kentucky $232,276,148 $189,232,486 -18.5% Tennessee $110,876,363 $101,489,680 -8.5% Alabama $189,920,970 $163,976,679 -13.7% Mississippi $79,144,990 $37,358,233 -52.8% W. S. CENTRAL $3,872,467,414 $1,967,705,006 -49.2% Arkansas $58,608,902 $212,048,207 261.8% Oklahoma $962,883,332 $151,292,606 -84.3% Louisiana $217,093,128 $119,494,617 -45.0% Texas $2,633,882,052 $1,484,869,576 -43.6% MOUNTAIN $1,611,220,273 $2,338,830,740 45.2% Montana $9,878,146 $20,335,820 105.9% Idaho $1,156,271 $3,718,043 221.6% Wyoming $10,234,537 $749,265 -92.7% Colorado $460,060,636 $345,792,963 -24.8% New Mexico $163,246,725 $49,225,219 -69.8% Arizona $350,565,430 $1,868,562,332 433.0% Utah $453,743,156 $923,113 -99.8% Nevada $162,335,372 $49,523,985 -69.5% PACIFIC $13,581,229,910 $8,160,986,591 -39.9% Alaska $82,708,045 $1,058,727 -98.7% Hawaii $277,360,655 $145,746,951 -47.5% Washington $443,626,036 $438,838,600 -1.1% Oregon $185,308,833 $131,468,259 -29.1% California $12,592,226,341 $7,443,874,054 -40.9%
============== =============== ======
$47,755,514,259 $29,357,384,306 -38.5%
Data for last year (1993) are final, this year (1994) figures are preliminary. (c) Copyright 1995 The Dun & Bradstreet Corporation, New York. -0-
THE DUN & BRADSTREET CORPORATION, ECONOMIC ANALYSIS DEPARTMENT
BUSINESS FAILURES REGIONAL ANALYSIS, DECEMBER 1994 YEAR TO DATE
Fails Fails
Last This
Year Year Change
------ ------ ------
NEW ENGLAND 5,339 3,757 -29.6%
Agr/For/Fish 72 51 -29.2%
Mining 4 0 -100.0%
Construction 770 472 -38.7%
Manufacturing 439 285 -35.1%
Trans/Util 162 98 -39.5%
Wholesale 321 224 -30.2%
Retail 1,200 839 -30.1%
Fin/Ins/R. Est 386 225 -41.7%
Services 1,746 1,433 -17.9%
Nonclassifiable 239 130 -45.6%
MID ATLANTIC 12,903 10,458 -18.9% Agr/For/Fish 193 146 -24.4% Mining 16 26 62.5% Construction 1,889 1,370 -27.5% Manufacturing 1,251 985 -21.3% Trans/Util 561 434 -22.6% Wholesale 1,268 995 -21.5% Retail 3,237 2,663 -17.7% Fin/Ins/R. Est 949 762 -19.7% Services 2,435 2,197 -9.8% Nonclassifiable 1,140 880 -20.3% E. N. CENTRAL 9,097 7,768 -14.6% Agr/For/Fish 346 325 -6.1% Mining 25 14 -44.0% Construction 1,367 1,217 -11.0% Manufacturing 898 647 -28.0% Trans/Util 411 334 -18.7% Wholesale 700 488 -30.3% Retail 1,835 1,533 -16.5% Fin/Ins/R. Est 494 493 -0.2% Services 2,131 1,907 -10.5% Nonclassifiable 890 810 -9.0% W. N. CENTRAL 4,443 3,702 -16.7% Agr/For/Fish 358 273 -23.7% Mining 10 7 -30.0% Construction 396 327 -17.4% Manufacturing 241 195 -19.1% Trans/Util 152 117 -23.0% Wholesale 217 141 -35.0% Retail 659 523 -20.6% Fin/Ins/R. Est 119 79 -33.6% Services 1,735 1,581 -8.9% Nonclassifiable 556 459 -17.4% S. ATLANTIC 12,978 10,734 -17.3% Agr/For/Fish 229 179 -21.8% Mining 52 46 -11.5% Construction 1,862 1,420 -23.7% Manufacturing 866 649 -25.1% Trans/Util 504 386 -23.4% Wholesale 1,288 1,047 -18.7% Retail 2,505 1,891 -24.5% Fin/Ins/R. Est 667 467 -30.0% Services 2,981 2,514 -15.7% Nonclassifiable 2,024 2,135 5.5% E. S. CENTRAL 3,217 2,585 -19.6% Agr/For/Fish 92 63 -31.5% Mining 36 30 -16.7% Construction 363 278 -23.4% Manufacturing 191 171 -10.5% Trans/Util 126 101 -19.8% Wholesale 197 145 -26.4% Retail 557 480 -13.8% Fin/Ins/R. Estate 120 78 -35.0% Services 909 736 -19.0% Nonclassifiable 626 503 -19.6% W. S. CENTRAL 9,389 8,026 -14.5% Agr/For/Fish 323 248 -23.2% Mining 123 85 -30.9% Construction 841 678 -19.4% Manufacturing 453 300 -33.8% Trans/Util 311 203 -34.7% Wholesale 519 400 -22.9% Retail 1,279 1,006 -21.3% Fin/Ins/R. Estate 472 304 -35.6% Services 2,330 1,949 -16.4% Nonclassifiable 2,738 2,853 4.2% MOUNTAIN 5,606 4,293 -23.4% Agr/For/Fish 178 122 -31.5% Mining 29 10 -65.5% Construction 505 383 -24.2% Manufacturing 297 211 -29.0% Trans/Util 158 130 -17.7% Wholesale 275 194 -29.5% Retail 775 587 -24.3% Fin/Ins/R. Estate 284 233 -18.0% Services 1,452 1,038 -28.5% Nonclassifiable 1,653 1,385 -16.2% PACIFIC 23,161 20,197 -12.8% Agr/For/Fish 498 465 -6.6% Mining 15 23 53.3% Construction 2,559 2,156 -15.7% Manufacturing 1,527 1,200 -21.4% Trans/Util 717 645 -10.0% Wholesale 1,229 1,001 -18.6% Retail 3,614 3,053 -15.5% Fin/Ins/R. Est 1,498 1,266 -15.5% Services 8,652 7,240 -16.3% Nonclassifiable 2,852 3,148 10.4%
====== ====== =====
TOTAL U.S. 86,133 71,520 -17.0%
THE DUN & BRADSTREET CORPORATION, ECONOMIC ANALYSIS DEPARTMENT
BUSINESS FAILURES REGIONAL ANALYSIS, DECEMBER 1994 YEAR TO DATE
Liabilities Liabilities
Last Year This Year Change
----------- ------------ -------
NEW ENGLAND $3,805,671,384 $1,937,516,803 -49.1%
Agr/For/Fish $13,772,613 $7,225,847 -47.5%
Mining $634,092 $0 -100.0%
Construction $133,120,145 $92,528,291 -30.5%
Manufacturing $298,429,453 $127,541,911 -57.3%
Trans/Util $137,865,716 $81,239,946 -41.1%
Wholesale $306,146,813 $77,776,150 -74.6%
Retail $609,902,441 $183,410,274 -69.9%
Fin/Insur/R. Est $1,636,652,949 $926,715,311 -43.4%
Services $621,829,646 $421,185,996 -32.3%
Nonclassifiable $47,317,516 $19,893,077 -58.0%
MID ATLANTIC $14,967,485,966 $7,723,471,927 -48.4% Agr/For/Fish $31,027,879 $35,216,926 13.5% Mining $20,585,446 $5,904,199 -71.3% Construction $787,044,591 $221,682,329 -71.8% Manufacturing $1,365,731,444 $1,846,403,856 35.2% Trans/Util $165,279,530 $498,787,625 201.8% Wholesale $423,051,927 $537,299,894 27.0% Retail $3,689,922,062 $1,603,039,271 -56.6% Fin/Ins/R. Est $7,186,364,977 $1,491,151,637 -79.3% Services $1,155,293,379 $1,040,234,224 -10.0% Nonclassifiable $143,184,731 $443,751,966 209.9% E. N. CENTRAL $3,865,991,637 $2,686,372,936 -30.5% Agr/For/Fish $64,846,930 $75,194,810 16.0% Mining $2,975,328 $2,731,040 -8.2% Construction $153,704,939 $168,190,106 9.4% Manufacturing $939,203,497 $813,208,915 -13.4% Trans/Util $517,759,178 $375,630,916 -27.5% Wholesale $312,948,603 $84,078,149 -73.1% Retail $393,951,191 $323,549,827 -17.9% Fin/Ins/R. Est $724,106,917 $297,962,533 -58.9% Services $618,279,415 $313,329,241 -49.3% Nonclassifiable $138,215,639 $232,497,399 68.2% W. N. CENTRAL $984,467,434 $493,320,316 -49.9% Agr/For/Fish $41,434,918 $47,652,201 15.0% Mining $2,900,242 $1,705,458 -41.2% Construction $36,422,968 $30,082,317 -17.4% Manufacturing $79,334,344 $32,282,667 -59.3% Trans/Util $12,338,632 $14,053,018 13.9% Wholesale $25,139,390 $11,906,224 -52.6% Retail $60,185,921 $43,390,451 -27.9% Fin/Insur/R. Est $447,882,072 $60,342,539 -86.5% Services $234,825,872 $204,038,611 -13.1% Nonclassifiable $44,003,075 $47,866,830 8.8% S. ATLANTIC $4,454,761,770 $3,557,122,909 -20.2% Agr/For/Fish $23,990,373 $36,449,541 51.9% Mining $56,489,217 $44,922,810 -20.5% Construction $201,401,865 $132,049,948 -34.4% Manufacturing $297,254,823 $174,236,785 -41.4% Trans/Util $72,679,527 $350,494,458 382.2% Wholesale $1,194,237,661 $389,415,489 -67.4% Retail $855,717,236 $962,308,205 12.5% Fin/Ins/R. Estate $365,975,067 $406,476,326 11.1% Services $693,549,923 $669,619,725 -3.5% Nonclassifiable $693,466,078 $391,149,622 -43.6% E. S. CENTRAL $612,218,471 $492,057,078 -19.6% Agr/For/Fish $19,111,749 $6,885,235 -64.0% Mining $75,734,177 $6,500,842 -91.4% Construction $40,310,766 $21,790,672 -45.9% Manufacturing $109,310,145 $91,181,175 -16.6% Trans/Util $91,805,100 $9,365,517 -89.8% Wholesale $22,150,339 $18,546,144 -16.3% Retail $63,403,939 $32,208,163 -49.2% Fin/Ins/R. Estate $44,446,738 $183,468,263 312.8% Services $114,145,741 $74,993,459 -34.3% Nonclassifiable $31,799,777 $47,117,608 48.2% W. S. CENTRAL $3,872,467,414 $1,967,705,006 -49.2% Agr/For/Fish $88,449,213 $59,921,719 -32.3% Mining $63,582,829 $62,079,268 -2.4% Construction $105,473,111 $57,622,804 -45.4% Manufacturing $273,994,739 $50,650,657 -81.5% Trans/Util $105,924,737 $43,239,258 -59.2% Wholesale $227,163,801 $58,682,718 -74.2% Retail $118,149,636 $413,101,683 249.6% Fin/Ins/R. Estate $1,546,000,656 $220,276,796 -85.8% Services $527,938,142 $350,799,341 -33.6% Nonclassifiable $815,790,550 $651,330,762 -20.2% MOUNTAIN $1,611,220,273 $2,338,830,740 45.2% Agr/For/Fish $37,871,912 $30,552,307 -19.3% Mining $10,411,128 $14,617,887 40.4% Construction $150,806,482 $39,056,873 -74.1% Manufacturing $146,085,191 $90,783,815 -37.9% Trans/Util $22,155,031 $7,893,761 -64.4% Wholesale $44,198,918 $10,665,140 -75.9% Retail $88,506,581 $1,612,389,284 1,721.8% Fin/Ins/R. Estate $226,794,728 $147,127,050 -35.1% Services $322,844,310 $137,380,710 -57.4% Nonclassifiable $561,545,992 $248,363,913 -55.8% PACIFIC $13,581,229,910 $8,160,986,591 -39.9% Agr/For/Fish $145,477,867 $458,040,422 214.9% Mining $8,274,396 $36,390,280 339.8% Construction $588,855,723 $444,410,425 -24.5% Manufacturing $1,454,545,321 $935,091,597 -35.7% Trans/Util $305,737,850 $225,888,217 -26.1% Wholesale $606,569,896 $328,038,245 -45.9% Retail $3,887,234,672 $791,103,392 -79.6% Fin/Ins/R. Est $2,399,661,937 $1,669,079,367 -30.4% Services $2,874,792,202 $2,248,951,752 -21.8% Nonclassifiable $1,310,080,046 $1,023,992,894 -21.8%
============== =============== ======
TOTAL U.S. $47,755,514,259 $29,357,384,306 -38.5%
Data for last year (1993) are final; this year (1994) figures are preliminary. (c) Copyright 1995 The Dun & Bradstreet Corporation, New York. -0-
THE DUN & BRADSTREET CORPORATION, ECONOMIC ANALYSIS DEPARTMENT
BUSINESS FAILURES INDUSTRY ANALYSIS, DECEMBER 1994 YEAR TO DATE
1993 1994 %
Industry Firms Firms Change
---------------------------- ------ ------ ------
Agriculture/forestry/fishing 2,289 1,872 -18.2%
Mining 310 241 -22.3%
Construction 10,552 8,301 -21.3%
Manufacturing 6,163 4,643 -24.7%
Transportation/public utilities 3,102 2,448 -21.1%
Wholesale trade 6,014 4,635 -22.9%
Retail trade 15,661 12,575 -19.7%
Finance/insurance/real estate 4,989 3,907 -21.7%
Services 24,371 20,595 -15.5%
Nonclassifiable establishments 12,682 12,303 -3.0%
====== ====== =====
86,133 71,520 -17.0%
Data for last year (1993) are final; this year (1994) figures are preliminary. (c) Copyright 1995 The Dun & Bradstreet Corporation, New York CONTACT: The Dun & Bradstreet Corp. Al Leach, 203/834-4274 |
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