– Factory gates and shops they close forever. Two years of declining economic production are leaving increasingly deeper traces on the German economy, said Marc Evers, an expert on small and medium-sized enterprises at the German Chamber of Commerce and Industry, quoted by money.pl. The Chamber expects over 20,000 business bankruptcies this year.
Germany. The number of company bankruptcies is increasing. Most reports concern transport and storage
According to preliminary data from the Federal Statistical Office (Destatis), the number of company bankruptcies in July 2024 increased by 22.1 percent year-on-year. German district courts reported 1937 conclusions for declaring bankruptcy. Creditors' claims were estimated at approximately PLN 3.2 billion euro (compared to approx. 3.1 billion euro in July 2023) – we read in the office's announcement.
According to Destatis, most bankruptcies concern the transport and storage sector (10.8 bankruptcies per 10,000 companies). The next place was taken by the construction industry (8.5 bankruptcies) and other economic services, e.g. temporary employment agencies (7.9 bankruptcies) and the hotel and catering industry (7.2 bankruptcies).
Germany showed weak data. It's about industrial orders
Data from the Federal Statistical Office also indicatein August 2024, there was a 5.8 percent month-on-month decline in orders in the German industry. Domestic orders dropped by as much as 10.9 percent and from abroad by 2.2 percent. For zone countries euro the decline in orders was 10.5 percent, and in the case of other countries they increased by 3.4 percent.