Insolvencies continue to adjust back to pre-pandemic levels : September 2023
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<title>Insolvencies continue to adjust back to pre-pandemic levels</title>
<subTitle>: September 2023</subTitle>
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<namePart>Atradius Crédito y Caución S.A. de Seguros y Reaseguros</namePart>
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<dateIssued>2023</dateIssued>
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<abstract displayLabel="Summary">The increase in insolvencies continues at an accelerated pace in 2023, followed by a more tempered increase in 2024. In 2023, the increase is driven by normalisation after the pandemic and the bankruptcy of zombie firms. Less government support longside tighter lending conditions create a challenging environment for companies globally. We expect the sharpest rising business failures in Hong Kong (68%), Netherlands (52%), United States (51%), South Korea (45%) and Italy (45%), since in all of these markets the return to normal is yet to take place. For 2024 we still see a global increase in insolvencies mainly driven by a minority of markets that started the post-Covid adjustment later or did not start yet or has started later. We expect the sharpest increases for Singapore (49%), Poland (43%), Italy (42%), Netherlands (39%) and United States (35%). Nonetheless, for the majority of markets the level of insolvencies stabilizes</abstract>
<note>Internacional</note>
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<topic>Análisis económico</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080608316">
<topic>Recuperación económica</topic>
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<topic>Insolvencia</topic>
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<topic>Perspectivas económicas</topic>
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