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Swedish bankruptcies continues to increase as the economic climate continues to look uncertain

Tuesday, 06 November 2012
The number of corporate bankruptcies in Sweden continues to increase showing that the Swedish economy is under enormous pressures and totalled 589 in October, an increase of 9 percent compared with the same month in the 2011.

According to latest data from the business and credit information company UC, in a press release, for the period January to October, the number of corporate bankruptcies was 5444 items, 11 percent more than in the corresponding period of the 2011.

UC notes that business bankruptcies continue to rise, but at a slightly slower pace. Bankruptcy increases with some exceptions nationwide and virtually all major industrial sectors is affected. Most bankruptcies increase was observed in transport, wholesale trade and among construction companies.

UC writes of pessimistic businesses and consumers, more layoffs and bankruptcies and a weaker growth than normally as characteristics of the Swedish industry. In addition, there are uncertainties about developments abroad.

As for all the corporate failures, these amounted to 726 in October, up 14 percent compared with the same month last year.
by Scancomark.com Team

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