Liquidations are on the increase with the total number of liquidations recorded for June 2009 up by 33.5 percent compared with June 2008, Statistics SA said on Monday.

"This is the highest percentage recorded for the month of June since 2003," economist Mike Schussler said in his comments on the data.

"We're still going to see the number of liquidations rise for a few more quarters at least," he added.

According to the Pretoria-based agency, the total number of liquidations recorded for the first six months of 2009 increased by 36.2 percent compared with the first six months of 2008.

This increase was due to rises of 38.4 percent in voluntary liquidations and 18.0 percent in compulsory liquidations, Statistics SA said.

When comparing the first six months of 2009 with the first six months of 2008, there were increases of 44.1 percent in company liquidations and 30.2 percent in close corporation liquidations, Statistics SA said.

However, the agency said the total number of insolvencies recorded for the first five months of 2009 decreased by 13.9 percent compared with the first five months of 2008.

And the total number of insolvencies recorded for May 2009 decreased by 46.8 percent compared with May 2008.

"Individual debt counselling will skew figures of insolvencies for some time to come ? and remember this is also a lagging indicator," Schussler said.