an increase in The number of bankruptcies in Germany. As to the Federal statistics office, registered with the German district courts in January of 1,700 corporate insolvencies and, thus, 5.7 percent more than a year ago. Since the beginning of 2019, among other well-known companies such as the airline Germania or the German fashion group Gerry Weber for payment have to be declared unfit.
The majority of insolvencies, there was the information, with 300 cases in the trade, followed by construction (265) and the hospitality (208). The creditors ‘ claims sum up to a total of 1.2 billion euros.
Because of the good economy, the bankruptcies in Germany declined nine years in a row. In December 2018, the number of bankruptcies reached the lowest level since 1994. The economic credit Agency credit reform expects this year due to the significant Economic downturn, however, with an end to this positive development. The number of insolvencies is expected to stagnate.
The Figures fit to the macroeconomic data, according to which the German economy is already in the second half of the year 2018. The leading institutes are forecasting for this year a rise in the gross domestic product of 0.8 per cent in 2018 by 1.4 per cent. Reasons for the weakness, the deterioration in the global economy, trade, conflicts, and risks such as the Brexit.