Business failures in Yorkshire dropped last month to their lowest level since September, 1997, according to new figures published by chartered accountants Deloitte & Touche.
There were only six receiverships and administration orders in the region in May, almost two-thirds less than April's total of 17.
Nationally, the drop was even more dramatic with only 64 appointments, the lowest monthly total since January, 1989.
The total number of failures in the region for the first four months of 1998 now stands at 68, well below the total of 97 for the same period a year ago.
Angus Martin, corporate recovery partner at Deloitte & Touche in Leeds, said: "These figures are good news. After a serious wobble earlier in the year, it now seems that the downward trend is back on course.
"However, manufacturing has been badly hit by exchange rates and loss of overseas markets in the Far East. So there is absolutely no room for complacency."
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