It is no surprise that Construction remained the worst industry for court actions in Quarter 3, 2019. However, other industries are showing signs of catching up.
Construction remained the worst-performing industry in court actions in all states with the exception of Western Australia. Western Australia which saw retail trade as the worst-performing industry for court actions by 39%.
New South Wales was the worst-performing state across the majority of industries. NSW construction court actions continued to grow by 28% in comparison to Quarter 2, 2019. In a Year on Year (YOY) comparison, NSW grew by 35% from Quarter 3, 2018.
In comparison with Quarter 3, 2018, NSW saw the increases in court actions across all industries with the exception of accommodation and food services; agriculture, forestry and fishing; and retail trade. The rest of the states saw predominantly decreases this quarter.
We also saw increases to insolvencies in a YOY comparison. Mining rose by 94%, Administrative and Support Services increased by 62% and Public Administration and Safetyincreased by 38%.
Construction remained the worst this quarter for payment defaults. However, in the YOY% comparison of industry payment defaults, we saw the highest increase in Professional, Scientific and Technical Services.
Professional, Scientific and Technical Services had the highest amount of ASIC Notices generated this quarter by 20%.
Administrative and Support Services, Construction, and Financial & Insurance Services saw payment times of 90+ days this quarter. A notable increase in payment times includes Information Media and Telecommunications increasing from 8 days to 44 days.
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