Business News
German corporate insolvencies jump in April
Jul 8, 2009, 9:25 GMT
Berlin - The number of German companies filing for insolvency jumped by 7.1 per cent in April compared to the same month last year, the Federal Statistics Office said Wednesday.
This pushed total corporate insolvencies in Germany up to 2,979, as a result adding to signs of the impact of the global recession on Europe's biggest economy.
In the period between January and April, insolvencies jumped by 12.1 per cent compared to the same period in 2008. But the figures did not include data from Germany's most populous state, North Rhine Westphalia.
At the same time, however, individual insolvencies dropped 5.7 per cent in April year on year, and fell by 3.7 per cent in January-April compared to the same period a year ago.
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