P.M. BRIEFING : Business Failures Decrease 14.5%
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NEW YORK — Business failures during the first six months of 1989 declined 14.5% to a total of 26,234, a Dun & Bradstreet Corp. report said today.
The number of companies filing for reorganization or protection under the U.S. Bankruptcy Code decreased significantly in seven of the nine U.S. census regions, the business information service said.
Joseph W. Duncan, corporate economist and chief statistician of Dun & Bradstreet, said the overall drop in business failures “underscores the overall stability of the U.S. economy.”
Dun & Bradstreet reported a rise in failures for only one industry--the finance, real-estate and insurance sector. Failures rose 11.7% to 1,431 from 1,281 in the first six months of 1988.
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