The wave of corporate insolvencies in Germany has ebbed somewhat in the course of this year but could rise again slightly in 2005, a top credit insurance company reported.
At the same time, Germany's information technology (IT) sector is becoming more and more optimistic about its prospects and the nation's key machinery sector reported Tuesday that it posted year-on-year 4 percent rise in orders in October, describing it as a "normalisation" of business developments.
Credit insurers Euler Hermes said in Hamburg that the number of business insolvencies in 2004 is now projected at 37,700, a drop of 4.1 per cent from last year. But the figure could rise again in 2005 by some 0.8 per cent to around 38,000 insolvency cases, it warned.
The company said that the amount of claims from this year's insolvency cases will reach a projected Ђ28bn, down by 8 per cent from the 2003 volume.
