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MNI BRIEF: German Firms Go Bust At Increasing Rate - IWH Data

(MNI) London

The number of German firms going bust in December rose to the highest level since 2016, Leibniz Institute for Economic Research Halle (IWH) reported on Wednesday, up 10% on the previous month and nearly 25% more than in December 2022.

Some 9,600 jobs were affected at the largest 10% of newly insolvent companies whose insolvency was reported, mostly in industry and business-related services. Labour market dynamics are a key metric for the ECB as it weighs up the timing of future rate cuts (MNI BRIEF: Labour Market Slowing From Record Level: De Guindos).

"The high values in December do not mark the end of rising insolvency figures. We expect the figures to continue to rise in the coming months,” IWH’s Steffen Müller, said - though further moderate increases this year would still be within the normal annual range.

MNI London Bureau | +44 20 3983 7894 |
MNI London Bureau | +44 20 3983 7894 |

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