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Hospitality sector facing a severe downturn, with construction and retail also showing ongoing signs of struggle.
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Larger mortgages over $1million now exhibiting unprecedented repayment strain
Overall industry insolvencies have risen to more than double historic levels, with considerable impact on small-medium businesses
Equifax A/NZ joins the Dun & Bradstreet Worldwide Network as member for A/NZ region
Red flags appearing for SMEs and Sole Traders, including an increasing reliance on personal credit and rising arrears
Buy Now Pay Later demand sees strong return to growth; workers in retail and hospitality relying on unsecured credit to make ends meet
Cost-of-living pressures have negatively impacted the financial ambitions of Australians, with 2 in 5 more stressed about their financial situation
Consumer trust in the construction sector continues to fall, with two-fifths of Aussies saying their perception of the industry has gotten worse over the past 12 months.
Equifax has been recognised as an ABA100 Winner for Business Innovation, Digital Transformation and Business Transformation in The Australian Business Awards 2024.
