Number of bankruptcies soaring
In June this year, 520 businesses and institutions (excluding one-man businesses) were declared bankrupt, i.e. 20 more than in May 2009. The number of bankruptcies was 200 higher than in June 2008.
In the first six months of 2009, the number of bankruptcies was relatively high. The number of businesses declared bankrupt in this period almost equalled the total number of bankruptcies over the year 2008. In the period April-June, however, fewer businesses went bankrupt than in the first quarter of 2009.
As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary strongly from month to month. Therefore, the three-monthly moving average is a more reliable indicator.
The three-monthly moving average dropped for the second month running. It amounted to 550 in June, as against 605 in May this year, but the indicator nearly doubled relative to June 2008.
Bankruptcies of businesses and institutions (excluding one-man businesses)