EU business registrations jump significantly in Q3 2020

By Yunus Girgin

ANKARA (AA) - The seasonally adjusted business registrations in the EU rose significantly in the third quarter of 2020 compared to the previous quarter, the bloc’s statistical authority said on Monday.

Data released by Eurostat showed that the figure was also up in the euro area over the same period. The increase was 45.3% in EU and 46.3% in euro area.

“In the third quarter of 2020, the quarter when COVID-19 containment measures were somewhat relaxed in many Member States, the number of registrations of new businesses in the EU saw a significant increase,” Eurostat said.

Since 2015, the number of new business registrations have generally increased in the EU and the euro area until the end of 2019. The trend was broken for the first time in the first quarter of 2020.

In the third quarter of 2020, the seasonally adjusted number of declarations of bankruptcies also increased both in the EU and euro area by 25.7% and 36.1% respectively, comparing with the second quarter of 2020.

In the second quarter, declarations of bankruptcies had fallen by 26.4% in the EU and 33.1% in the euro area, it said.

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU27 includes all member countries of the bloc.

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