452 companies filed for bankruptcy in the US in 2024, the most in 14 years | News India

Ahmedabad: The year 2024 is proving to be challenging for the US economy. In the first eight months of the current year, 452 big companies have gone bankrupt. The shocking thing is that this is the second largest number in the last 14 years. Due to the lockdown in 2020 during the pandemic, 466 companies applied for bankruptcy till August. This year, 63 companies declared bankruptcy in August and 49 in July, which is the fourth worst month for the industry in the last four years.

Sector-wise, 69 companies in the consumer discretionary sector have gone bankrupt, while 53 companies in the industrials sector have declared bankruptcy and 45 companies in the healthcare sector have gone bankrupt.

This is the first time since the Corona epidemic that the US economy is witnessing a recession of this level. Along with corporate bankruptcy, unemployment and falling consumer spending are also a matter of concern. Experts believe that more companies are likely to go bankrupt in the coming months.

Number of bankrupt companies in last 15 years