Most of the regions found their level of failure in 1997

Corporate defaults statistics illustrate the contagion of the financial crisis in the "real" economy According to near final data of Altares, specializing in information on companies, 55,000 openings of relief or judicial liquidation procedure judgments were recorded last year, i.e. an increase of 10.3 over 2007, accelerating from the balance sheet of the first half. The number of failures (including artisans and the liberal professions) is not, however, the mid-1990s levels (more than 61.000 cases in 1996).

On a somewhat different account, the credit insurer Euler Hermes SFAC recorded a 14 increase last year, with about 57,000 failures. "All regions are in the red," said Thierry Millon, responsible for studies of Altares. "The Ile-de-France is doing rather better by limiting the degradation to about 5." Most of the regions found their level of failure in 1997.

The peak will be in March or April

CAMIF, Wasteels or, in December, Morgan: 27 companies against 28 in 2007 realizing more than 50 million euros of turnover were the subject of redress or liquidation procedure, last year. "The difficulties are more sensitive to businesses with 20 to 49 employees, which are generally less than 10 million euros of turnover," observes Thierry Millon. In the sectors, it is real estate which has experienced the strongest increase in failures ( 42, with 2,200 cases). But the industry, best preserved in recent years, also recorded an increase of 5, with almost 3,500 cases.

"If the decline in the GDP is as strong as expected in the fourth quarter, the peak of failures will be in March or April", provides for Karine Berger, Director of studies of Euler Hermes SFAC. Noting that the impact of the measures decided in recent months (support for Treasury and finance, etc.) to cushion the impact remains difficult to assess, the credit insurer table on estimated failures this year.

"Nothing to do with 1975.

The industry will be in the front line, and especially automotive, sales of cars in France fell by 15.8 in December (see page 19). However, business leaders, all sectors, attacked the new year without necessarily crush black. In addition to automotive, intermediate goods electrical components, for example suffer, too, a reversal, shows the Union of industries and professions of metallurgy (UIMM), but many other trades are 'in phase stability of activity", as for example the mechanical. Other sectors "retain a positive slope", as the rail and aviation. Diagnosis highly qualified by Insee in its last survey of the industry.

The morale of the patterns is therefore very contrasted at the dawn of 2009. In the building, it welcomes Government action to insulation or HLM construction, but there are concerns about the wait that could raise the prospect of a second stimulus plan. "Many companies consume their order books without really reconstruct", is the President of the French Federation of the building, Didier Ridoret.

The CGPME, "everyone has not yet been result but concern dominates everywhere". "The year 2008 is fairly complete and individual small businesses say that they will escape." "At the time, they consider very anxiety-provoking political discourse for 2009," adds Stephan Bush, in charge of SMEs to the Medef. Artisans, themselves, are the large back. "Is neither catastrophe nor the euphoria, the situation is slack," is the President of the UPA, Pierre Martin, for which "there will be damage this year, but nothing to do with 1975, 1983 and 1993.