BUSINESS failures in the region fell by almost half last month, according to figures out today.

A total of 15 receivership and administration appointments were made in the North West in March, down from the 28 recorded in January.

The local figures reflect a national trend of failling business failures.

"Economic indicators suggest that the prospect of recession is fading and only certain sectors on the economy - such as manufacturing - are suffering badly, largely attributable to the strong pound," said John Wilson, insolvency partner at Deloitte & Touche.

"Other parts of the economy remain robust."

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