110k companies suspend activity, almost a quarter of them in construction

The economic slowdown is taking a toll on businesses as 110,500 companies suspended operations in the first half of the year. If the slowdown persists, this number is expected to double by December 2023. In some industries, the percentage of suspended businesses reaches up to 70% of the 2022 figures. The data, collected by Dun & Bradstreet Poland, reveals that inflation and cost-cutting are driving this trend.

The construction sector is most affected with 24% of suspended firms, followed by retail and wholesale trade at 16.5%. Sectors like scientific, technical activities, industrial manufacturing, transport, and information and communication also show notable suspensions. Additionally, online stores, facing stiff competition, saw 3,800 suspensions, representing 67% of the 2022 total.

Source: 300gospodarka.pl