Story perspectives
Canada's Insolvencies Surge 12.1% Amid Economic Pressures
2/5/2025
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Story summary
- Canada experienced a 12.1% rise in insolvencies in 2024, with business insolvencies up 28.6%.
- Construction, transportation, and food services are the most impacted sectors.
- The economy is pressured by tariffs and mortgage renewals, despite a 3% interest rate.
- Small businesses face heightened risks from rising costs and potential losses in export markets.
