There’s been a sizeable fall in the level of business distress, including individual indicators reporting new record lows, according the R3, the insolvency trade body. Just 17% of businesses reported a key indicator of distress, compared with September’s 28%.

The president of R3, Philip Sykes, says:

“It’s particularly positive to see the drop in businesses experiencing decreased sales volumes and profits. Healthier profitability will help businesses stay on top of their cash flow and prevent over-reliance on credit.”

Read more here