Economy: Number of corporate insolvencies recently declining

According to an analysis by the Leibniz Institute for Economic Research Halle (IWH), the number of corporate insolvencies in Germany has recently fallen somewhat.

Economy: Number of corporate insolvencies recently declining

According to an analysis by the Leibniz Institute for Economic Research Halle (IWH), the number of corporate insolvencies in Germany has recently fallen somewhat.

The institute reported that fewer insolvencies were filed by partnerships and corporations in October than in September. 722 companies were affected. In September, 760 companies filed for bankruptcy.

The low numbers are also an expression of the comparatively few working days in October, which may have contributed to a lower number of insolvency openings, said Steffen Müller, head of the IWH structural change department. However, the decline is no reason to give the all-clear in the tense economic situation.

"For the next two months, rising insolvency numbers and more jobs affected by insolvency are expected," said Müller. The economic researchers see the reasons for this, in addition to the severely deteriorating economic situation, above all in rising costs for energy, wages and interest on loans, for example. However, a wave of bankruptcies is not in sight.

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