Number of bankruptcies marginally down

11/10/2013 15:00

In September this year, 595 businesses and institutions (excluding one-man businesses) were declared bankrupt, fewer than in August and the lowest number of bankruptcies so far in 2013, although still 7 percent up from September 2012. Many businesses and institutions declared bankrupt in September were active in the sectors trade (146) and construction (100).

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 considerably from one month to the next. Therefore, the three-month moving average is a more reliable indicator. In September, the three-month moving average was 661. For the second time in a row, the average was below the level of the preceding month.

The bankruptcy rate over the first three quarters of 2013 was high; in the first nine months of this year 6,353 businesses and institutions declared were bankrupt, a 15 percent increase relative to the same period last year.

Bankruptcies of businesses and institutions (excluding one-man businesses)

Bankruptcies of businesses and institutions (excluding one-man businesses)

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.