Economic Indicators

Insolvencies in Germany up 22.9% year-on-year in October

2024.11.21 07:12

BERLIN (Reuters) – The number of insolvencies in Germany rose by 22.9% in October on the previous year, the country’s statistics office Destatis said on Thursday.

This means that with the exception of June 2024, the number of involvencies has seen double-digit monthly increases since June 2023, Destatis said.

“Collapsing demand from Germany and abroad, high costs for energy and skilled workers, considerable burdens from taxes and bureaucracy – all of this is putting pressure on business prospects and the financial situation,” the German chambers of commerce and industry (DIHK) said in response to the figures.

Germany’s economy is struggling with sluggish overseas demand, shortages of skilled labour and increasingly fierce competition from China.

© Reuters. FILE PHOTO: The financial district with the headquarters of Germany's largest business bank, Deutsche Bank is photographed on early evening in Frankfurt, Germany, January 29, 2019.  REUTERS/Kai Pfaffenbach/File Photo

Its GDP has grown by 0.1% in real terms over the past five years, meaning that its economic development continues to lag in international comparisons.

($1 = 0.9497 euros)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 84,317.59 4.52%
ethereum
Ethereum (ETH) $ 2,338.34 5.87%
tether
Tether (USDT) $ 0.99881 0.02%
xrp
XRP (XRP) $ 2.20 4.61%
bnb
BNB (BNB) $ 610.14 2.19%
solana
Solana (SOL) $ 136.01 5.54%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.203412 3.52%
cardano
Cardano (ADA) $ 0.647499 4.80%
staked-ether
Lido Staked Ether (STETH) $ 2,335.04 6.12%
tron
TRON (TRX) $ 0.226204 1.33%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,264.58 4.55%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,791.22 6.28%
chainlink
Chainlink (LINK) $ 15.24 0.10%
litecoin
Litecoin (LTC) $ 123.84 8.33%
avalanche-2
Avalanche (AVAX) $ 21.83 0.22%
sui
Sui (SUI) $ 2.88 1.50%
stellar
Stellar (XLM) $ 0.285481 2.90%
the-open-network
Toncoin (TON) $ 3.48 1.53%
shiba-inu
Shiba Inu (SHIB) $ 0.000014 2.36%
leo-token
LEO Token (LEO) $ 9.06 1.15%
hedera-hashgraph
Hedera (HBAR) $ 0.196853 0.31%
usds
USDS (USDS) $ 1.00 0.12%
polkadot
Polkadot (DOT) $ 4.75 2.83%
mantra-dao
MANTRA (OM) $ 7.06 8.38%
weth
WETH (WETH) $ 2,338.70 5.79%
hyperliquid
Hyperliquid (HYPE) $ 19.81 3.23%
ethena-usde
Ethena USDe (USDE) $ 0.998466 0.06%
bitcoin-cash
Bitcoin Cash (BCH) $ 293.19 0.76%
bitget-token
Bitget Token (BGB) $ 4.00 6.37%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,476.53 6.02%
uniswap
Uniswap (UNI) $ 7.94 4.49%
monero
Monero (XMR) $ 214.80 0.72%
whitebit
WhiteBIT Coin (WBT) $ 26.29 2.26%
near
NEAR Protocol (NEAR) $ 3.02 1.07%
aptos
Aptos (APT) $ 5.97 6.84%
pepe
Pepe (PEPE) $ 0.000008 0.60%
dai
Dai (DAI) $ 0.999664 0.01%
ondo-finance
Ondo (ONDO) $ 0.978486 1.79%
internet-computer
Internet Computer (ICP) $ 6.37 0.74%
aave
Aave (AAVE) $ 203.51 0.20%
bittensor
Bittensor (TAO) $ 351.54 6.98%
susds
sUSDS (SUSDS) $ 1.04 0.06%
ethereum-classic
Ethereum Classic (ETC) $ 18.74 0.54%
okb
OKB (OKB) $ 45.14 1.88%
official-trump
Official Trump (TRUMP) $ 13.22 0.33%
gatechain-token
Gate (GT) $ 21.03 1.40%
mantle
Mantle (MNT) $ 0.75273 5.84%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.36 7.93%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,203.56 4.70%