Late payments rise for second consecutive quarter
Late payment times edged higher in the June quarter, although in absolute terms, the level of late payments remains near historical lows. While it is too early to be concerned about the rise in late payments over the past two quarters, any further increases will indicate a shift away from the recent pattern of falling payment times. One trend remains the same: the largest companies (with more than 500 employees) are the slowest to pay their accounts.
"The New Zealand economy has recorded surprisingly moderate growth so far in 2017. With the RBNZ also leaving official interest rates being on hold with for an
extended period, the factors that drove late payments lower between 2011 and 2016 – strong growth and progressively lower interest rates – have been absent. Despite
that, the late payments data confirm the economy is in sound shape with a healthy corporate sector, despite the moderate rate of economic growth."
Stephen Koukoulas, Dun & Bradstreet Economic Adviser
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