German company and consumer insolvencies in August fell 55.6% from a year earlier to the lowest level on record, according to data released by the Federal Statistics Office in Wiesbaden.
The sharp drop was likely a temporary effect due to government aid aimed at bolstering the shock of the corona-virus induced economic crisis, the statistics office said. “The economic problems of many businesses owing to the coronavirus crisis have not been reflected yet by an increase in reported business insolvencies.”
Looking ahead to the next year, companies across Europe are feared to be at
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