Number of Dutch bankruptcies exceptionally high

A total of 796 Dutch businesses and institutions were declared bankrupt in May, the highest number since 1981, the Central Bureau for Statistics (CBS) announced on Monday. In April, 694 businesses and institutions were declared bankrupt. According to CBS the most substantial increase was recorded in the sector of trade and business services. In the construction sector, on the other hand, the number of bankruptcies hardly changed. As the number of businesses declared bankrupt in a particular month is closely related to the number of days courts are in session, it may vary considerably from month to month. Therefore, the three-month moving average is a more reliable indicator, the CBS explained. The three-month moving average was 733 in May, compared with 721 in April. In March, the three-month moving average was 734. This, too, was the highest level since the beginning of the time series in 1981.