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Construction insolvencies buck trend

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New research shows construction industry insolvencies have fallen at a slower pace

A report by credit experts Experian showed that 289 companies in the sector went under in July 2012, slower than the cross-sector average.

This was a drop of 5 per cent from the same month a year earlier, but represented a smaller drop than the 10 per cent fall across all industries in the UK over the same period.

The construction sector had a relatively high density of insolvencies in July, with 0.17 per cent of the population of the sector suffering, compared with 0.09 per cent across all industries.

Scotland saw the greatest reduction in insolvencies, a 25 per cent drop across all industries, while Eastern England saw the largest rise at 8.6 per cent.

Data continues to show the industry in peril.

Figures from The Insolvency Service earlier this month showed 89 companies in the construction industry went into administration in the three months to the end of June 2012.

This was up from 83 in the previous quarter, and represented the highest second quarter figure since 2009.

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