More bankruptcies due to extra court session day

According to Statistics Netherlands, 524 businesses and institutions (excluding one-man businesses) were declared bankrupt in September 2014, 59 more than in the preceding month. The increase was caused by the fact that September had one court session day more than August. Compared with July, which had the same number of court session days as September,  the number of bankruptcies was considerably lower.

In the period January-September, 5,085 businesses and institutions were declared bankrupt, nearly 21 percent fewer than in the corresponding period in 2013, but still nearly twice as many as in the first eight months of 2008.

Most bankruptcies recorded in the trade sector

The trade sector (wholesale and retail) had the highest number of bankruptcies (115). The number of bankruptcies was also  relatively high in the financial services sector (83).

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

Downward trend

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 September, the three-month moving average was 540, up from 520 in August. This month, the three-month average is slightly skewed  as it is based on two months with an extra court session day. The average decreased considerably after a peak in mid-2013, but remains relatively high compared to the pre-crisis level. 

More figures can be found in dossier Business cycle.

For more information on economic indicators, see the Economic Monitor.