Number of German insolvencies climbs further in August
Tweet
Share
E-mail
FILE PHOTO: The skyline with its banking district is photographed in Frankfurt, Germany, August 13, 2019. REUTERS/Kai Pfaffenbach/File Photo
BERLIN (Reuters) - Germany saw a 10.7% increase in insolvencies in August compared to a year earlier, the federal statistics office reported on Wednesday, adding to data that show persistent difficulties for companies in Europe's largest economy.
The growth rate in insolvencies has been in double-digit territory since June 2023, with the exception of June 2024, when the year-on-year increase eased briefly to 6.3%, the office said.
In the first half of 2024, German courts reported 10,702 corporate insolvencies, up 24.9% year on year, according to final data.
The transport and storage sector accounted for most insolvencies in that period, followed by the construction industry, business services such as temporary employment agencies and hospitality.
(Reporting by Rachel More, editing by Thomas Seythal)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nvidia bounce shows Wall Street's AI obsession is far from over
- Factbox-From Australia to Europe, countries move to curb children's social media access
- Trading Day: Hot inflation cools sentiment
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
