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Business

Fewer German Firms Going Broke

The number of companies that went bust in Germany stood at 2,826 in January, 6.7 percent fewer than in January 2004, data published Friday by the federal statistics office, Destatis, showed. It was the first time since November 2003 that the number of corporate failures had averaged less than 3,000 in a single month, Destatis said in a statement. Nevertheless, including private individuals and other organisations, the total number of insolvencies jumped by 11.9 percent to 9,652 in January, Destatis calculated. Following a record number of corporate insolvencies last year, the decline in corporate failures in January therefore provided some hope that the situtation might improve this year. (AFP)