So the rate of interest is up, and will probably continue to rise. Now news in from KPMG has found that just as conditions are about to get tougher, they are already pretty bad anyway.
In a new report, KPMG, with figures compiled by Mandis Information Services Ltd, has found that there was a surge in the number of negative company announcements in the quarter to June.
The report found that were 1,385 negative announcements, the highest quarterly level since the period ending March 2003.
KPMG said “Retailers had a difficult start to the summer with high street fashion stores among those under pressure. Negative announcements in the sector rose by nine per cent”, while the World Cup, rather than boosting advertising expenditure, could not reverse the downward trend in TV advertising, and market share lost to the Internet.
But it was the health care sector that had the biggest hit. It saw a threefold increase in negative warnings – up at 135 warnings for the quarter to June 2006 from 42 warnings in the quarter to March 2006.
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