NEWS
Insolvency Numbers for Construction Industry
Last month, BICB shared an article about the Construction Industry Insolvencies for 2021. In that article, our Executive Director, Wayne Clark presented a forecast for expected insolvencies for the sector from February onwards.
Insolvencies Construction Industry (Actual & Forecast)
| Mth 20/21 | NSW | VIC | QLD | SA | WA | TAS | NT | ACT | AUST |
| Jul | 19 | 23 | 11 | 1 | 6 | 0 | 0 | 6 | 66 |
| Aug | 26 | 13 | 5 | 0 | 5 | 0 | 0 | 2 | 51 |
| Sep | 25 | 21 | 13 | 0 | 3 | 0 | 0 | 2 | 64 |
| Oct | 22 | 11 | 9 | 3 | 5 | 0 | 0 | 3 | 53 |
| Nov | 23 | 50 | 7 | 1 | 7 | 0 | 0 | 1 | 89 |
| Dec | 48 | 39 | 12 | 4 | 6 | 2 | 1 | 1 | 113 |
| Jan | 10 | 11 | 2 | 1 | 5 | 0 | 1 | 0 | 30 |
| Feb | 36 | 31 | 18 | 3 | 9 | 0 | 1 | 2 | 101 |
| Mar | 55 | 47 | 27 | 5 | 14 | 1 | 1 | 3 | 153 |
| Apr | 45 | 39 | 23 | 4 | 12 | 0 | 1 | 3 | 127 |
| May | 58 | 50 | 29 | 5 | 15 | 1 | 1 | 4 | 163 |
| Jun | 54 | 46 | 27 | 5 | 14 | 1 | 1 | 3 | 151 |
| Total | 421 | 380 | 184 | 33 | 102 | 5 | 7 | 30 | 1161 |
Based on data, his forecast for February was 101. ASIC recently published their insolvency report and the number for February was 101! It’s great when a forecast and actual match!
Clearly, excellent data that BICB has on hand underpinned these well researched predictions. It is worth noting all future Construction Industry Insolvency predictions.
Read ASIC’s full report.
