- According to the Office of the Superintendent of Bankruptcy, the Quebec City census metropolitan area (CMA) recorded 429 bankruptcies in the third quarter of 2012, down 7.9% from the previous quarter.
- Consumers and businesses saw their financial situations improve, which helped to drive down the number of bankruptcies by 8% and 7.4% respectively.
- Quebec City recorded 424 bankruptcies in the third quarter, for an annual decrease of 11.9%.
- In the Chaudière-Appalaches region, bankruptcies fell by 2.7% to 213.
- The province of Quebec recorded 6,087 bankruptcies in the third quarter, for an annual decline of 9.4%.
- In Canada, 17,810 consumers and businesses filed for bankruptcy, down 10.6%.
The growing labour market and low interest rates are having a positive effect on consumers’ financial situation in the Quebec City CMA. In the third quarter, 400 individuals filed for bankruptcy, or 35 fewer than in the previous quarter. This marked the lowest level recorded since 2007.
The financial situation for businesses also continues to improve in the Quebec City region this year. In the third quarter, 25 corporate bankruptcies were recorded in the region, two fewer than in the previous quarter. This was largely thanks to the diversity of Quebec City’s business environment and to steps taken to adjust to the various economic constraints that are still present.