The number of company insolvencies further dropped in January. According to the Federal Statistical Office, compared with January 2006 the decline amounted to as much as 6.6%. Expressed in absolute figures there were 2416 company insolvencies in January 2007. On the other hand, in the same period the figure of private insolvencies increased by 27.5% amounting to 8961 cases.
Adding other kinds of private insolvencies the total number of insolvencies was 14.082 cases in January 2007 which is a 15.2% increase compared to January 2006. Claims by creditors amounted to 3.4 billion Euros in January 2007 which is 24% more than in January 2006. Almost 70% of these claims concern companies. 