Economic development in Europe lost significant momentum in 2023. According to estimates by the EU Commission, the economic area recorded only minimal growth and a weak economic situation overall.
Business insolvencies in Western Europe at 10-year low The number of corporate insolvencies in Western Europe (EU-15 plus Norway and Switzerland) declined further in 2019. The total, 163,548, represented the lowest level for ten years. Compared with the previous year (165,213 cases), the decrease was 1.0 percent. However, only six of the 17 countries surveyed recorded a reduction in their insolvency volumes – but these included large economies like France, Germany and the United Kingdom. The...