Despite the Albanese Labor government’s upbeat rhetoric on Australia’s recent economic performance, the numbers tell a bleaker story.
Business closure rates are now “at or above pre-COVID levels,” according to CreditorWatch.
Business Closure Rates Above Pre-COVID Levels, Creditor Group Warns
Western Sydney is bearing the brunt of weak consumer spending with businesses in the region closing at the highest rate in the country.
A customer pays for their goods with cash at South Melbourne Market in Melbourne, Australia on March 26, 2025. Asanka Ratnayake/Getty Images
Naziya Alvi Rahman
Author
Naziya Alvi Rahman is a Canberra-based journalist who covers political issues in Australia. She can be reached at [email protected].
