German Feb Corporate Insolvencies Down 7% On Year
(even the germans are going futher into the rabbit hole)
FRANKFURT (Dow Jones)--The number of German corporate insolvencies in February fell 7% compared to the same period a year earlier, the Federal Statistics Office said Friday.
In February, 2,755 companies went insolvent, 207 fewer than 2,962 in February last year, continuing a downward trend.
Corporate insolvencies have fallen since the beginning of 2006, with 445 fewer insolvencies, or 7.7% less, than in January and February 2005.
However the number of private household insolvencies increased. In February the number of household insolvencies totaled 6,717, which was 44% higher than 4,667 in February last year. In the first two months of the year, the number of household insolvencies was 50% higher than in the same period the year before.
The total number of insolvencies in February, including corporate, private household, self employed and others, totaled 11,889, an increase of 19% from 10,018 in the same period the year before.
Total insolvency debt totaled EUR2.3 billion in February, down from EUR2.5 billion in the same period the year before, the statistics office said.
The drop in total insolvency debt is helped by the decrease in corporate insolvencies, as corporate debt accounts for about 60% of total debt.
Web site: destatis.de
-By Maeve Curtin, Dow Jones Newswires; +49 69 29 725 515; maeve.curtin@dowjones.com
(END) Dow Jones Newswires
May 05, 2006 04:44 ET (08:44 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 04 44 AM EDT 05-05-06 |
