Bankruptcy Filings Decrease in November 2014
According to a report issued by the U.S. Bankruptcy Court, there were only 128 filings during the month of November 2014. This represented a decrease of 13.5 percent as compared to the same month a year prior Jack Suyderhoud, professor of business economic at the University of Hawaii at Manoa Shidler College of Business and an adviser to First Hawaiian Bank, commented, "Bankruptcies tend to track the economy, so it's not surprising that it's down when the economy is improving, which in terms of the labor market certainly has been the case. When you look at the GDP (gross domestic product) for the U.S. as a whole, 2014 is going to end up pretty good despite the weak start at the beginning of the year. To me it's not a surprise that bankruptcies are going down in this part of the business cycle. The data we're getting on the overall economy is pretty strong. The big question is how this will carry over into 2015 given weakness in Europe and Asia and the strength of the U.S. dollar."
