Business Default Index

The Business Default Index (BDX) is a monthly high-resolution gauge of nationwide business defaults.  It is based on the credit performance of nearly 18 million businesses that have been tracked by WAIN Street for over 12 months.  We also publish several business size-based sub-indices.

Business Default Index Definition
Aggregate All businesses
Solo Businesses without paid employees
E20 Businesses with 1 to 19 employees
VSB Very Small Businesses — Solo + E20
E100 Businesses with 20 to 99 employees
E100+ Businesses with 100 or more employees

The BDX has been validated as an accurate macroeconomic indicator with new information content concerning bank loan portfolio performance, consumer spending, and consumer confidence.

The BDX and it sub-indices can serve as a benchmark for comparing portfolio performance.