Late Payments stabilise
Late payment times have undergone a period of consolidation during 2017, after dramatic falls over the preceding six years. Since Q3 2011 the average late payment time for an overdue invoice fell 61.8%, whereas the past 12 months has seen average payment times edge 2.3% higher, from 5.8 days to 5.9 days. Since 2015, late payment times have generally ranged between 5 and 6 days.
"Late payments remain low as firms continue to meet their payments in a timely manner. Economic conditions show low inflation and interest rates, and a moderate rate of growth. This mix of news is good for business cash flows and is a driver of the favourable medium-term trend on late payments."
Stephen Koukoulas, illion Economic Adviser
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