[Economic Report of the President (1998)] [Administration of William J. Clinton] [Online through the Government Printing Office, www.gpo.gov] Table B-96.--Business formation and business failures, 1955-97 -------------------------------------------------------------------------------------------------------------------------------------------------------- Business failures\1\ ---------------------------------------------------------------------- Index of Number of failures Amount of current liabilities net ------------------------------ (millions of dollars) business New business Liability size ------------------------------ Year or month formation incorporations Business class Liability size (1967= (number) failure -------------------- class 100) rate\2\ Total Total ------------------- Under $100,000 Under $100,000 $100,000 and over $100,000 and over -------------------------------------------------------------------------------------------------------------------------------------------------------- 1955.................................................. 96.6 139,915 41.6 10,969 10,113 856 449.4 206.4 243.0 1956.................................................. 94.6 141,163 48.0 12,686 11,615 1,071 562.7 239.8 322.9 1957.................................................. 90.3 137,112 51.7 13,739 12,547 1,192 615.3 267.1 348.2 1958.................................................. 90.2 150,781 55.9 14,964 13,499 1,465 728.3 297.6 430.7 1959.................................................. 97.9 193,067 51.8 14,053 12,707 1,346 692.8 278.9 413.9 1960.................................................. 94.5 182,713 57.0 15,445 13,650 1,795 938.6 327.2 611.4 1961.................................................. 90.8 181,535 64.4 17,075 15,006 2,069 1,090.1 370.1 720.0 1962.................................................. 92.6 182,057 60.8 15,782 13,772 2,010 1,213.6 346.5 867.1 1963.................................................. 94.4 186,404 56.3 14,374 12,192 2,182 1,352.6 321.0 1,031.6 1964.................................................. 98.2 197,724 53.2 13,501 11,346 2,155 1,329.2 313.6 1,015.6 1965.................................................. 99.8 203,897 53.3 13,514 11,340 2,174 1,321.7 321.7 1,000.0 1966.................................................. 99.3 200,010 51.6 13,061 10,833 2,228 1,385.7 321.5 1,064.1 1967.................................................. 100.0 206,569 49.0 12,364 10,144 2,220 1,265.2 297.9 967.3 1968.................................................. 108.3 233,635 38.6 9,636 7,829 1,807 941.0 241.1 699.9 1969.................................................. 115.8 274,267 37.3 9,154 7,192 1,962 1,142.1 231.3 910.8 1970.................................................. 108.8 264,209 43.8 10,748 8,019 2,729 1,887.8 269.3 1,618.4 1971.................................................. 111.1 287,577 41.7 10,326 7,611 2,715 1,916.9 271.3 1,645.6 1972.................................................. 119.3 316,601 38.3 9,566 7,040 2,526 2,000.2 258.8 1,741.5 1973.................................................. 119.1 329,358 36.4 9,345 6,627 2,718 2,298.6 235.6 2,063.0 1974.................................................. 113.2 319,149 38.4 9,915 6,733 3,182 3,053.1 256.9 2,796.3 1975.................................................. 109.9 326,345 42.6 11,432 7,504 3,928 4,380.2 298.6 4,081.6 1976.................................................. 120.4 375,766 34.8 9,628 6,176 3,452 3,011.3 257.8 2,753.4 1977.................................................. 130.8 436,170 28.4 7,919 4,861 3,058 3,095.3 208.3 2,887.0 1978.................................................. 138.1 478,019 23.9 6,619 3,712 2,907 2,656.0 164.7 2,491.3 1979.................................................. 138.3 524,565 27.8 7,564 3,930 3,634 2,667.4 179.9 2,487.5 1980.................................................. 129.9 533,520 42.1 11,742 5,682 6,060 4,635.1 272.5 4,362.6 1981.................................................. 124.8 581,242 61.3 16,794 8,233 8,561 6,955.2 405.8 6,549.3 1982.................................................. 116.4 566,942 88.4 24,908 11,509 13,399 15,610.8 541.7 15,069.1 1983.................................................. 117.5 600,420 109.7 31,334 15,572 15,762 16,072.9 635.1 15,437.8 1984.................................................. 121.3 634,991 107.0 52,078 33,527 18,551 29,268.6 409.8 28,858.8 1985.................................................. 120.9 664,235 115.0 57,253 36,551 20,702 36,937.4 423.9 36,513.5 1986.................................................. 120.4 702,738 120.0 61,616 38,908 22,708 44,724.0 838.3 43,885.7 1987.................................................. 121.2 685,572 102.0 61,111 38,949 22,162 34,723.8 746.0 33,977.8 1988.................................................. 124.1 685,095 98.0 57,097 38,300 18,797 39,573.0 686.9 38,886.1 1989.................................................. 124.8 676,565 65.0 50,361 33,312 17,049 42,328.8 670.5 41,658.2 1990.................................................. 120.7 647,366 74.0 60,747 40,833 19,914 56,130.1 735.6 55,394.5 1991.................................................. 115.2 628,604 107.0 88,140 60,617 27,523 96,825.3 1,044.9 95,780.4 1992.................................................. 116.3 666,800 110.0 97,069 68,264 28,805 94,317.5 1,096.7 93,220.8 1993.................................................. 121.1 706,537 109.0 86,133 61,188 24,945 47,755.5 947.6 46,807.9 1994.................................................. 125.5 741,778 86.0 71,558 50,814 20,744 28,977.9 845.0 28,132.9 1995.................................................. (3) 766,988 82.0 71,128 49,495 21,633 37,283.6 866.1 36,417.4 1996.................................................. (3) 790,332 80.0 71,811 49,547 22,264 34,021.1 913.1 33,108.0 --------------------------- (1)Seasonally adjusted --------------------------- 1996:Jan.............................................. (3) 69,345 ........ 6,038 4,217 1,821 4,310.3 66.9 4,243.4 Feb............................................... (3) 69,617 ........ 5,547 3,888 1,659 1,905.8 65.2 1,840.7 Mar............................................... (3) 60,449 ........ 6,637 4,561 2,076 1,656.6 81.4 1,575.2 Apr............................................... (3) 67,180 ........ 6,720 4,634 2,086 3,000.3 90.4 2,909.9 May............................................... (3) 68,186 ........ 7,233 4,954 2,279 2,427.0 89.0 2,338.0 June.............................................. (3) 61,513 ........ 6,272 4,326 1,946 1,537.2 80.3 1,456.8 July.............................................. (3) 73,060 ........ 4,530 3,171 1,359 4,281.0 48.4 4,232.5 Aug............................................... (3) 62,164 ........ 4,977 3,340 1,637 1,518.4 73.9 1,444.4 Sept.............................................. (3) 62,515 ........ 4,760 3,374 1,386 2,892.1 49.1 2,843.0 Oct............................................... (3) 69,898 ........ 6,541 4,483 2,058 2,166.5 92.6 2,073.9 Nov............................................... (3) 60,665 ........ 6,258 4,304 1,954 1,401.5 88.1 1,313.4 Dec............................................... (3) 66,542 ........ 6,393 4,377 2,016 6,142.0 83.3 6,058.7 1997:Jan.............................................. (3) 74,963 ........ 7,383 4,948 2,435 11,286.0 91.4 11,194.6 Feb............................................... (3) 70,808 ........ 6,782 4,518 2,264 1,213.5 88.5 1,125.0 Mar............................................... (3) 65,405 ........ 7,438 4,933 2,505 1,530.7 99.6 1,431.1 Apr............................................... (3) 67,556 ........ 7,654 5,083 2,571 4,049.8 108.0 3,941.8 May............................................... (3) 67,530 ........ 7,211 4,827 2,384 2,084.9 97.3 1,987.6 June.............................................. (3) 65,063 ........ 6,917 4,700 2,217 1,565.6 94.3 1,471.3 July.............................................. (....... 7,292 4,852 2,440 10,464.1 98.8 10,365.3 Aug............................................... (....... 6,811 4,679 2,132 1,920.1 86.0 1,834.1 Sept.............................................. (....... 7,155 4,775 2,380 3,446.8 93.3 3,353.5 Oct............................................... (....... 7,420 5,053 2,367 1,318.8 99.4 1,219.4 Nov............................................... (....... 6,022 4,021 2,001 1,715.5 80.3 1,635.2 -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ Commercial and industrial failures only through 1983, excluding failures of banks, railroads, real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc. Data beginning 1984 are based on expanded coverage and new methodology and are therefore not generally comparable with earlier data. Data for 1996 and 1997 are preliminary and subject to revision. \2\ Failure rate per 10,000 listed enterprises. \3\ Series discontinued in 1995. Sources: Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation.