In May this year, 551 businesses and institutions (excluding one-man businesses) were declared bankrupt, i.e. 165 fewer than in April 2014. The drop in the number of bankruptcies is partly due to the extra day courts were in session in April. The number of bankruptcies in May 2014 was 31 percent below the level of May 2013, when 800 business and institutions were declared bankrupt. May 2013 and May 2014 had the same number of court session days.
Bankruptcies declined most notably in the sectors trade and professional services
The number of bankruptcies declined notably in the sectors trade and specialist services, e.g. consultancy and research. Nevertheless, these sectors accounted for the highest number of bankruptcies (94 and 86 respectively), just as in the preceding month.
Number of bankruptcies fairly stable over the first five months of 2014
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.
With 598 versus 617, the three-month moving average was also lower in May than in April. The average varied around 600 in the first five months of this year. The number of bankruptcies fell substantially in the second half of 2013, but, as yet, the decline does not seem to continue this year.
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.