Contents Page Summary 1 1.1 Company insolvency in England and Wales 3 1.2 Individual insolvency in England and Wales 4 1.3 Summary tables 5 2 Company insolvency in England and Wales 2.1 Company liquidations 6 2.2 Administrations, company voluntary arrangements, and receiverships 9 2.3 Experimental Statistics: company liquidations by industry 10 3 Individual insolvency in England and Wales 3.1 Bankruptcies, debt relief orders and individual voluntary arrangements 12 3.2 Bankruptcies: petition type, trading status and income payment agreements 14 4 Insolvency in Scotland 4.1 Company insolvency 17 4.2 Individual insolvency 18 5 Insolvency in Northern Ireland 5.1 Company insolvency 19 5.2 Individual insolvency 20 6 Background notes 21 What is seasonal adjustment, and why has it been applied to these statistics? Seasonal adjustment has been used in the Insolvency Statistics for a number of years, is Illustration of seasonal adjustment commonly used in official statistics, and is the process by which patterns in a data series that are due to seasonal or other calendar influences are This graph shows the number of bankruptcies in England and removed, to produce a clearer picture of the Wales each quarter. The unadjusted data has regular peaks in Q1 This means underlying behaviour of the data. of each year, which if not accounted for could lead to comparisons between quarters being distorted by these regular effects. that data for the latest quarter can be compared with that for the previous (or any other) quarter, without the comparison being distorted by calendar effects. Several data series in this release such as – bankruptcies have been seasonally adjusted. – Some such as compulsory liquidations did not – – show seasonal patterns and did not require adjustment. Where possible, seasonally adjusted data are referred to in this release, to aid interpretation of quarter-on-quarter changes. The main exception is the section on individual insolvencies, where the data series for one type of insolvency (debt relief orders) is not yet long enough to apply seasonal adjustment. The detailed tables which accompany this release contain both adjusted and unadjusted data.
Contents Page 1 Summary 1.1 Company insolvency in England and Wales 3 1.2 Individual insolvency in England and Wales 4 1.3 Summary tables 5 2 Company insolvency in England and Wales 2.1 Company liquidations 6 2.2 Administrations, company voluntary arrangements, and receiverships 9 2.3 Experimental Statistics: company liquidations by industry 10 3 Individual insolvency in England and Wales 3.1 Bankruptcies, debt relief orders and individual voluntary arrangements 12 3.2 Bankruptcies: petition type, trading status and income payment agreements 14 4 Insolvency in Scotland 4.1 Company insolvency 17 4.2 Individual insolvency 18 5 Insolvency in Northern Ireland 5.1 Company insolvency 19 5.2 Individual insolvency 20 6 Background notes 21 What is seasonal adjustment, and why has it been applied to these statistics? Seasonal adjustment has been used in the Insolvency Statistics for a number of years, is commonly used in official statistics, and is the process by which patterns in a data series that are due to seasonal or other calendar influences are removed, to produce a clearer picture of the underlying behaviour of the data. This means that data for the latest quarter can be compared with that for the previous (or any other) quarter, without the comparison being distorted by calendar effects. Several data series in this release – such as bankruptcies – have been seasonally adjusted. Some – such as compulsory liquidations – did not show seasonal patterns and did not require adjustment. Where possible, seasonally adjusted data are referred to in this release, to aid interpretation of quarter-on-quarter changes. The main exception is the section on individual insolvencies, where the data series for one type of insolvency (debt relief orders) is not yet long enough to apply seasonal adjustment. The detailed tables which accompany this release contain both adjusted and unadjusted data. Illustration of seasonal adjustment This graph shows the number of bankruptcies in England and Wales each quarter. The unadjusted data has regular peaks in Q1 of each year, which if not accounted for could lead to comparisons between quarters being distorted by these regular effects.
Q2_2014_statistics_release_-_web.docx