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Business openings fell 50% annually in Q2 amid recession fears: Equifax – National | Globalnews.ca

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Equifax Inc. says new enterprise openings within the second quarter of 2022 have been down nearly 50 per cent in comparison with a yr in the past.

New enterprise openings have been additionally down by nearly 49 per cent in comparison with the identical quarter in 2019.

Jeff Brown, Equifax’s head of economic options, says usually round 100,000 companies open within the second quarter of every yr.

Learn extra:

Recession fears put housing plans on maintain for 41% planning to purchase or promote: Re/Max

Brown sees the numerous drop in new openings as an indication of the potential impending recession.

He says small companies, which make up the majority of recent openings, are scuffling with inflation, decreased client spending, elevated debt from pandemic loans, and provide chain issues.

Story continues under commercial

The credit score reporting company says debt ranges, delinquencies and bankruptcies are creeping again up towards pre-pandemic ranges as stresses on companies rise.


Click to play video: 'Canadian Loonie and home ownership on decline as recession fears loom'







Canadian Loonie and residential possession on decline as recession fears loom


Canadian Loonie and residential possession on decline as recession fears loom – Sep 23, 2022

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