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Analysis 2001/2002

Germany

INTRODUCTION The double-digit growth rates in the turnover of Germany’s factoring industry during the last few years almost came to a standstill in 2002. This was because of the unsatisfactory development of the German economy with a record number of insolvencies of medium-sized and some large companies. The German factoring industry had to tighten their risk control policy and therefore lost clients. INDUSTRY ENVIRONMENT The German economic development in 2002 was low with an average GDP growth

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