Business and consumer insolvencies rise in May from last year

TORONTO — Canadian insolvencies rose in May from last year as elevated inflation and interest rates continue to hit businesses and consumers.

The overall figures came as consumer insolvencies totalled 12,195 in May for a rise of 3.4 per cent from April and an increase of 11.3 per cent from last year.

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Canadian services sector downturn ends as new business climbs in MayThe headline business activity index rose to 51.1 from 49.3 in April, rising above the 50 threshold for the first time since May last year and posting its highest level since April 2023
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