THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, February 23, 1995 TAG: 9502230368
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 25 lines
The number of American businesses that failed last year declined 17 percent, reinforcing other signs of a healthy economy, according to a survey released Wednesday. Research by Dun & Bradstreet Corp. showed U.S. business failures dropped to 71,520 from 86,133 in 1993, continuing a decline from 1992's peak of 97,069. ``The reason you have fewer failures is because the overall climate of the economy is better,'' said Michael Moran, chief economist with Daiwa Securities America Inc. `Everything you look at on the economy points to that direction.'' The decline in business failures complement broader indications of the economy's strength last year - including the creation of millions of new jobs, a low unemployment rate and increased consumer spending. (AP) by CNB