The number of corporate defaults in the world since the beginning of the year turned out to be the highest since the global financial crisis of 2008. The Financial Times writes about this with a link to S&P.
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Since the beginning of the year, the number of company defaults in January-February in the world reached 29, the highest since 2009. In particular, in the USA the number of corporate defaults was 17, in Europe – eight.
This is the highest value over the last 15 years, when in 2009 the number of corporate defaults for the same period was 36 cases.
p>The recorded figure is almost twice the average observed in 2010-2023 (16 cases).
At the same time, an increase in the number of corporate insolvencies has been recorded for the third year in a row, and their number is compared to 2022 ( when the world was gradually recovering from the pandemic shock and the restrictions associated with it) increased by almost 2.5 times, while during 2020–2022 there was a decrease in the number of defaults by 40%.
The increase in the number of defaults is linked by S&P with weak consumer demand, rising wages amid labor shortages and high interest rates.
