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Investing.com -- German business insolvencies increased by 2.4% in June compared to the same month last year, according to preliminary figures released Friday by the German statistics office.
Many of these insolvency proceedings were initiated approximately three months before they were officially registered, the office stated.
The statistics office also provided final figures for April, showing that business insolvencies registered during that month rose by 11.5% compared to April 2023.
Despite this increase in the number of cases, the financial impact was less severe than in recent months.
The rising insolvency trend adds pressure on Germany’s newly formed government to implement measures aimed at revitalizing economic growth in Europe’s largest economy.
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