While the figures indicate that the recession may well be on its way out, the year on year figures for Q1 2010 against Q1 2009 shows an increase of 11.5%.
Once again, the construction sector accounted for the largest number of Court Judgments filed with 31% and totalling £218,040, whilst further reinforcement of the difficult year in the Housing market is reflected in the £126,117million worth of CJ’s in Real Estate and Renting.
-- Advertisement --
Antrim-based companies accounted for the majority of CJs with 38% followed by Down with 23%. Armagh-based companies were the lowest offenders with 6% and totalling just under 50K.
"Court Judgments are a massive indicator of a company’s health, but also of the economy’s health," said Michael Gannon, Head of Business and Account Development at ICC Information.
"Seeing a fall in the value of Court Judgments for the second quarter in a row is a great sign for the economy in Northern Ireland, and hopefully we will see further falls in the coming quarters."
"However, it is only one indicator of a company’s financial health, and as an extension of the local economy, and the fall may also be a result of falling trading conditions in 2009 as the market corrects itself."
(NS/GK)
