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MNI BRIEF: MoM German Insolvency Dip Seen As Temporary - IWH

(MNI) LONDON
(MNI) London

Fewer firms went bust in November than previous month, but easing of court bottlenecks means figures will rise, Leibniz Institute reports

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Fewer German partnerships and corporations went bust in November than in October, the latest think tank figures show, although the number is up significantly compared with the same time last year, with the slight decline in insolvencies not thought to suggest a change in the outlook.

Some 977 firms were declared insolvent last month, down 6% on October’s figure but up 21% year-on-year and 10% above the pre-pandemic level, with the Leibniz Institute for Economic Research Halle (IWH) expecting numbers to rise again in the coming months. Around 10,000 jobs were lost at the biggest 10% of firms, mostly in the healthcare and social service sector, with business-related services and industry some way behind.

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Fewer German partnerships and corporations went bust in November than in October, the latest think tank figures show, although the number is up significantly compared with the same time last year, with the slight decline in insolvencies not thought to suggest a change in the outlook.

Some 977 firms were declared insolvent last month, down 6% on October’s figure but up 21% year-on-year and 10% above the pre-pandemic level, with the Leibniz Institute for Economic Research Halle (IWH) expecting numbers to rise again in the coming months. Around 10,000 jobs were lost at the biggest 10% of firms, mostly in the healthcare and social service sector, with business-related services and industry some way behind.

Keep reading...Show less