KUKE: Bankruptcies down 35% y/y in December

In December 2013 the number of companies that went bankrupt in Poland fell by 16.1 percent month-on-month and by 35 percent year-on-year and stood at 52, according to data from the Export Credit Insurance Corporation (KUKE). The construction sector remains most affected with a bankruptcy rate of 3.42 percent, higher than the 3.25 percent rate recorded in December 2012. In 2014, the sector will most likely slowly head out of the crisis, KUKE wrote as reported by ISBnews. KUKE projects that in 2014 the number of bankruptcies will sum up to about 839, which will be 5.3 percent less than in 2013.