Construction is the area with more cases of insolvency.

The number of insolvent companies in Portugal increased by 5% in the first half of 2015 compared to the same period 2014, a total of 2,918, according Cosec numbers known on Tuesday.

According to the report ‘Cosec Insolvency 2015′, released by that insurer, between January and June this year, 2,918 insolvencies were recorded and 532 special revitalization processes (PER), an annual increase of 5% and 7%, respectively. An analysis by economic sectors, construction remains the area with more cases of insolvencies, representing 24% of the total, despite having registered a decline of 4% over the first half of 2014.

As for the geographical distribution, districts which registered more insolvencies were in Lisbon (25.5%), Porto (20%) and Braga (11.3%).

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