EU business bankruptcies increase 2.7 percent in third quarter

11/14/2024 8:47:21 AM

(MENAFN) Business bankruptcies in the EU increased 2.7 percent quarter-on-quarter in the third quarter of 2024, the bloc’s statistical bureau Eurostat stated on Thursday.

As several divisions published bankruptcies, the largest increase was seen in the transport division, with a 28.8 percent surge in the figure of businesses that announced bankruptcy.

At the meantime, information and communication businesses saw a 15.3 percent increase in the figure of bankruptcies, and accommodation as well as food facilities saw a 9.8 percent surge.

At the same time, education and social activity industry bankruptcies dropped 16.3 percent and the figure of bankruptcies in the financial division fell 6.8 percent.

Regarding business registrations, the EU saw a surge of 2.2 percent in the figure of registrations quarter-on-quarter in the third quarter.

The largest increase in business registrations was seen in the transport division with a 3.9 percent surge, followed by construction with 3.7 percent, and the financial division with 2.7 percent.

However, the communication division saw a decline in the figure of business registrations in the third quarter of 0.8 percent, followed by industry at 0.5 percent, and accommodation an food services at 0.2 percent, the data revealed.

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