(RTTNews) - Friday, Germany’s Federal Statistical Office announced that the total number of insolvencies increased 3.5% year-on-year to 12,874 in August.

The business insolvencies increased 12.3% on an annual basis to 2,619 in August, while consumer insolvencies rose 0.3% to 7,858.

For the January to August period, total insolvencies climbed 2.2% compared to the same period of the previous year. During the period, business insolvencies rose 15.5%, while consumer insolvencies fell 1.1%.

The change rates from January to August refer to computations without Nordrhein-Westfalen, the Destatis said.

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Posted in Categories: Economy, Eurozone, Releases.

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