more bankruptcies in March, mainly due to extra court session day

According to Statistics Netherlands, 614 businesses and institutions (excluding one-man businesses) were declared bankrupt in March this year, i.e. 134 more than in the preceding month. The increase is largely due to the extra day courts were in session in March. The number of bankruptcies increased by 88 relative to March 2014. March 2015 also had an extra session day compared to March 2014.

More bankruptcies in trade, fewer in financial services

With 111 and 87 respectively, most bankruptcies were filed in the sectors trade and financial services. In the trade sector, the number of bankruptcies increased by 23, while in the sector financial services the number of bankruptcies decreased by 13. In the construction sector, 86 businesses were declared bankrupt in March, an increase of 24 relative to February.

The sectors trade and financial services include the highest number of businesses. The highest bankruptcy rates were recorded in the sectors construction, hotels and restaurants and transport and storage.

Average number of bankruptcies also marginally up

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.

The three-month moving average stood at 524 in March, versus 492 in February. The average has fallen noticeable after a peak in mid-2013 and is currently at the lowest level since September 2011. Compared to the peak of mid-2013, the average is still relatively low.

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