Very alarming economic indicator hits highest level for 14 years

US corporate bankruptcies hit their highest level since the 2008 financial crisis - as Americans tighten their belts.

Companies have also incresingly been grappling with high rising debts - driven by high interest rates that caused borrowing costs to spike.

In 2024, 686 companies filed for bankruptcy, up 8 percent from 2023 - and almost more than 2021 and 2022 combined. It also marks the most filings since 2010, according to data from S&P Global Market Intelligence.

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