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Ireland’s highly open economy is cooling off and demand in export markets is set to remain weak while the domestic economy faces increasing capacity constraints and lower government spending.
In Italy, business insolvencies are expected to increase in 2019, by about 4%. This is due to economic stagnation, increased political uncertainty and tighter credit conditions.
GDP growth in the Netherlands is expected to slow to 1.7% in 2019. After several years of sharp decreases in insolvencies, this year is likely to mark a turning point.
As economic growth decelerates, and the manufacturing sector struggles amid lower global trade, Western Europe expects to close the year with a 2.7% increase in insolvencies.
Insolvencies are rising, and structural weaknesses and the negative impact of sanctions on productivity and investment weigh on the economic expansion.