Global economic growth is forecast to slow to just 2.8% in 2006 from an estimated 3.2% in 2005 and a record 4% in 2004. This will have a strong impact on the number of business failures, which, according to Euler Hermes, a specialist insurer, will rise on average by 1% and by 4% in Germany, 3% in the UK and the US, and 2% in Japan.
“What we see is that the fluctuation of the global insolvency index more or less mirrors the fluctuation of world GDP,” says Philippe Brossard, head of research at Euler Hermes.
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