RTTNews - Friday, Germany's Federal Statistical Office announced that the total number of insolvencies increased 4.1% year-over-year to 12,511 in May.

Meanwhile, insolvency courts reported the business insolvencies increased 14.9% annually to 2,663 in May, while consumers insolvencies grew 0.4% to 7,493.

For the January to May period, the total number of insolvencies declined 0.1% to 65,191, over a year ago. During the period, business insolvencies rose 12.9%, while consumer insolvencies dropped 3.5%.The change rate was without the results of Nordrhein-Westfalen, the Destatis said.

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