Business insolvencies hit a record high with more pain to come | The Business | ABC News [Video]

The International Monetary Fund has upgraded the global outlook on the back of unexpectedly strong growth in the US, but the fallout from Australia’s economic slowdown is becoming clearer.
Subscribe: http://ab.co/1svxLVE
New data from CreditorWatch shows the number of businesses in the hands of external administrators is at a record high, up by more than 22 per cent in the last year. The CEO Patrick Coghlan says conditions are set to decline further in the months ahead.

ABC News provides around the clock coverage of news events as they break in Australia and abroad. It’s news when you want it, from Australia’s most trusted news organisation.

For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on Twitter: http://twitter.com/abcnews

Note: In most cases, our captions are auto-generated.

#ABCNews #ABCNewsAustralia