Between July and September 1999, KPMG recorded 273 receiverships, 32 more than in the previous three months, an increase of 13%. However, the year on year figure reveals only a very slight increase. In the first nine months of 1999 there were 817 appointments as compared to 810 in the same period of 1998.The largest increase in the number of appointments occurred in the Midlands where the number of receiverships rose by 57% from 35 in the second quarter to 55 in the third quarter. In the south east the number of appointments rose by 39% (90 to 125). In only two areas, the north west and south west, was there a marked reduction in the number of receiverships. In the north west there was a drop of 31% (52 to 36) between the second and third quarters. In the south west (including South Wales) there was a 41% fall (17 to 10) over the same period.Tony Thompson at KPMG commented: 'Although the number of receivership appointments increased during the third quarter of this year there are clear signs that confidence is returning to the economy. Inflation continues to remains under control, and unemployment close to its lowest level for twenty years. There are even reports that the manufacturing sector is beginning to record higher levels of orders and output. Provided that confidence continues to rise, the number of companies going into receivership can be expected to fall.'
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