More than 600 bankruptcies

In August this year, 608 businesses and institutions (excluding one-man businesses) were declared bankrupt, the lowest level in 2013 so far, although the number of bankruptcies was 19 percent up from August 2012. Many businesses and institutions declared bankrupt in August were active in the sectors trade (149) and construction (99).

As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary considerably from one month to the next. Therefore, the three-month moving average is a more reliable indicator. In August, the three-month moving average was 688, i.e. lower than in July, when the indicator reached the highest level since the beginning of the time series in 1981.

The number of bankruptcies soared in the first eight months of 2013. A total of 5758 businesses and institutions were declared bankrupt in the first eight months of this year, a 15 percent increase relative to the same period in 2012.

Bankruptcies of businesses and institutions (excluding one-man businesses)