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IWH Insolvency Trend Turns Downwards For First Time Since Nov'23

GERMAN DATA
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The number of monthly insolvent firms in Germany decreased in May by 7.0% to 1271 (vs +5.4% prior) in its first decline since November 2023, according to estimates of research institute IWH.

  • On a yearly comparison, insolvency numbers are still up 39.8% in May (vs +46.8% prior). Compared to the average of the May indicies between 2016-2019, this month's figures lie around 31% higher, IWH says.
  • Insolvencies in the manufacturing and real estate sectors kept increasing, however, reaching all-time high levels since the sectoral series started in January 2020.
  • Looking ahead, IWH is confident that insolvency numbers are set to decline further in the next months but repeats that the current level is clearly elevated on a historical comparison.
  • The data adds to the narrative that there is some gradual recovery in German economic conditions ongoing.

MNI, IWH

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The number of monthly insolvent firms in Germany decreased in May by 7.0% to 1271 (vs +5.4% prior) in its first decline since November 2023, according to estimates of research institute IWH.

  • On a yearly comparison, insolvency numbers are still up 39.8% in May (vs +46.8% prior). Compared to the average of the May indicies between 2016-2019, this month's figures lie around 31% higher, IWH says.
  • Insolvencies in the manufacturing and real estate sectors kept increasing, however, reaching all-time high levels since the sectoral series started in January 2020.
  • Looking ahead, IWH is confident that insolvency numbers are set to decline further in the next months but repeats that the current level is clearly elevated on a historical comparison.
  • The data adds to the narrative that there is some gradual recovery in German economic conditions ongoing.

MNI, IWH