MNI BRIEF: German Insolvencies Fall For Fist Time Since 2023
Number of German firms going bust still above pre-pandemic average IWH says
The number of German firms going bust fell in May, the first decline since November 2023, the Leibniz Institute for Economic Research Halle (IWH) reported on Thursday, although more manufacturing and real estate companies were declared insolvent than at any time since 2020.
Some 1270 firms went under last month, IWH said, 7% fewer than in April, when numbers peaked for the third month in a row. Further falls are “already in sight,” researchers said, with the number of employees losing their jobs at the top 10% of affected “significantly lower” than in the previous month.
However researchers also cautioned that the current figure is still 40% higher than in May 2023, and 31% above the 2016-19 average.