Kiwis continue to face financial difficulties despite the economic recovery, with three in ten (29 percent) expecting they will need to use their credit card to pay for otherwise unaffordable expenses in the coming months and 28 percent concerned about their expenditure over Christmas.

The payment terms of New Zealand firms have stalled, putting an end to three consecutive quarters of recovery however; further improvements are expected in the months ahead.

The risk of sluggish and weak growth this year is becoming increasingly apparent despite the healthy pace of expansion that is occurring in the global economy entering 2010. Consequently, more than 60 countries around the world are expected to record lower output in real terms in 2010 than they did prior to the crisis.

The New Year could bring a significant rise in the number of Kiwis facing debt stress and with black marks on their credit reports if consumers don't effectively manage the financial pressures of the festive season, warns credit reporting and debt collection agency Dun & Bradstreet.

New Zealand firms are hurting each other and setting themselves up to be locked out of the credit market as a result of the way they are prioritising payments. New research released today by Dun & Bradstreet (D&B) reveals that eight in ten firms are prepared to miss supplier payments if they are unable to pay all their accounts and half of firms are settling their bills late as a result of cash flow issues or because their own customers are paying delinquently.

The payment terms of New Zealand firms have declined for the third consecutive quarter, providing further evidence that local economic conditions are improving. A fall of 1.4 days since the previous quarter and 6.5 days in the past nine months has reduced terms to 44.3 days, a level which is just days above pre-crisis terms.

A sustained improvement in the global economic outlook is not yet a certainty, with high unemployment, tight credit and rapidly rising borrowing by governments negatively impacting the short-term outlook. However, the local outlook is more promising, particularly on the back of June quarter GDP figures which show the economy grew by 0.1 percent (the first expansion in six quarters), according to a new report released today by Dun & Bradstreet.

As some clear signs of stabilisation have begun to appear in the domestic economy, New Zealand has been rated as one of the safest countries in which to invest in the Asia-Pacific region. Dun & Bradstreet's Asia-Pacific Risk Indicator places New Zealand in the top four countries, behind Australia and Japan and in line with Hong Kong.

Credit and privacy. Could there be two more controversial issues The debate about credit reporting reform has been contentious since Dun  & Bradstreet first placed it on the agenda in 2004. A recent marketing campaign promoting easy to understand but otherwise meaningless credit scores by one industry participant has further increased community tension about the data available to lenders.

New Zealand firms have improved payment terms for the second consecutive quarter, with a drop of 2.7 days since the previous quarter reducing terms to an average of 45.7 days. However despite the improvement, business-to-business payments remain significantly above the standard 30 day term and there are warnings that a blow-out in terms could be on the horizon.

Almost half of working New Zealanders could only last up to one month on their savings if they lost their job and twenty eight percent anticipate a need to use credit to pay for things they otherwise couldn't afford during the September 2009 quarter, indicating that local economic conditions continue to impact household budgets.

Recent data indicating a slowdown in the pace of economic deceleration should not be interpreted as the start of a global recovery. A new report released today by Dun & Bradstreet  states that the outlook for the world economy over 2009-10 remains poor and the downside risk to New Zealand remains considerable as a consequence.

The number of business-to-business debts referred for collection has more than doubled year-on-year and the dollar value has increased, according to figures released today by Dun & Bradstreet.

Nearly 82,000 New Zealand firms have had their risk or payment profile downgraded since January 2008. This is the largest number of downgrades ever in a 15 month period.

New Zealand firms have slightly lowered trade payment terms from their highest level in sevenyears, dropping back below the 50 day mark that was exceeded in the December quarter of 2008. Dun & Bradstreet's Quarterly Trade Payments Analysis reveals that businesses averaged 48.4 days to settle accounts in the March 2009 quarter, following a drop of 2.4 dayssince the previous quarter. The slight drop follows an increase of more than one week over2008.

One in five Kiwis with a mortgage are prepared to miss a repayment and 51 percent of people admit to making at least one bill payment late in the last 12 months with credit cards, pay TV, phones, Internet and council rates presenting the greatest challenges.

A collapse in world trade, particularly in the Asia-Pacific region, and a sharp drop in economic growth for China have significantly heightened the downside risk to New Zealand's outlook, according to a new report released today by leading credit reporting and business intelligence firm Dun & Bradstreet (D&B).

The differences between young and old, and high and low income households are becoming increasingly prevalent, with Dun & Bradstreet's latest Consumer Credit Expectations Survey revealing that young Kiwis have significantly higher expectations than their older counterparts of a need to turn to credit to cover expenses, while low income households anticipate rising debt levels in the months ahead.

New Zealand firms are under pressure as a blow-out in trade payment days hits business cashflow. Payment terms rose above the fifty day mark to an average of 50.8 days in the December 2008 quarter, an increase of more than one week over the past year, according to Dun & Bradstreet's (D&B's) Quarterly Trade Payments Analysis.

World economic growth will fall to 1.0% in 2009, the lowest level in more than ten years, before rebounding to 2.1% in 2010, according to a report released today by leading credit reporting and business intelligence firm Dun & Bradstreet (D&B)