GERMAN DATA: May Insolvency Drop A One-Off - IWH
Jun-09 12:19
May’s 15% fall in the number of German insolvencies is more likely the result of an exceptionally low number of working days compared with April, the Leibniz Institute for Economic Research in Halle published today, with higher fuel prices driving a record number of insolvencies in the transportation and warehousing sectors. Insolvency rates are expected to remain at a similarly high level in June, IWH added.
- Some 1,518 partnerships and corporations were declared insolvent last month, a “significant” fall on recent months, the IWH said, though the number of insolvencies per working day was the second highest ever recorded in the Insolvency Trend.
- For context, German industrial production today saw a stabilization close to cycle lows. The government's headline E500bln infrastructure fund, announced last March, meanwhile seems not able to lift off German economic conditions by now - for our view on a monitoring of the fund, see Hidden PDF.
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