Thursday, 3 April 2008

Finnish Bankrupties UP, Not Yet Alarming?

"Finnish companies made 488 bankruptcy filings in the first two months of the year, compared with 429 last year, up 14% , business daily Kauppalehti said, citing Statistics Finland."

"The increase is not big enough to warrant alarm, according to Pekka Haenninen, an actuary at Statistics Finland, the paper said. The biggest increase was for trading companies, Kauppalehti said."

"Personal bankruptcies increased to 2099 from 1532, according to the newspaper, putting their increase at 37 percent. "

Is that the canary in the coal mine preceding any slowdown? We are not yet in a recession and bankruptcies are already on the rise, quite alarming...

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