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General situation and outlook
Atradius BV, a leading international credit insurer and B2B collections company anticipates business insolvencies in the United States falling 10% in 2011 to less than 52,000 insolvencies. This level, however, remains 84% higher than in 2007 and 17% higher than in 2008, the year the financial crisis begun. US business insolvencies peaked in 2009 at 60,530.
GDP increased 2.8% last year, but despite a 4.1% increase in private consumption in Q4 consumer confidence remains subdued, casting doubt on the fortitude of the economic turnaround and the 3.0% GDP growth expectation for 2011. As a result, though manufacturing grew throughout 2010 companies are expected to remain cautious about any sustained capital expenditures which could impede getting the recovery on firmer footing.
Insolvency
- In its latest US country report, Atradius forecasts a 10% drop of company insolvencies in 2011.
- Still - at 51,700 - this will be higher than the pre-crisis figure (28,137 in 2007).
- Non-business bankruptcy filings in the fiscal year 2010 increased 14.4%.
The economy
- Consumer confidence remains subdued, due to household indebtedness, persisting high unemployment, declining house prices and subdued loan flows.
- Businesses must look to exports - especially to emerging markets.
 Download full country report on USA
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General Information
Capital: Washington D.C.
Currency: US Dollar (USD)
Population: 307.4 million
Main import sources (2009)
- China: 19.0%
- Canada: 14.4%
- Mexico: 11.3%
- Japan: 6.2%
- Germany: 4.6%
Main export markets (2009)
- Canada: 19.4%
- Mexico: 12.2%
- China: 6.6%
- Japan: 4.8%
- UK: 4.3%
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Date: March 2011
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