Insolvencies in Germany

Counts the insolvency proceedings opened each month in Germany, by companies and individuals alike. It is a direct measure of financial distress in the economy: it rises when demand falls, credit gets dearer or support schemes end.

Count of proceedings reported by insolvency courts, aggregated by Destatis.

It does not move markets on its own, but it is a good gauge of the cycle: sustained increases anticipate job losses and bank arrears.

It lags the real problem: months pass between a company stopping payments and the court opening proceedings. It also depends on legal changes, which can jolt the series without the economy having changed.