Late payment times edged higher in 2017
The average late payment time for a New Zealand business rose 9.7 percent during 2017, according to illion’s Late Payments analysis. Despite the annual increase, the average late payment time for the December quarter is just 0.5 days off the record low of 5.3 days set in 2016.
"Late payments remained near historical lows in the December quarter, reflecting the solid fundamentals in the New Zealand economy. Firms remain the beneficiaries of a healthy rate of economic growth, low unemployment and near record low interest rates, all of which are helping to support cash flows, which is a critical element in determining late payment times."
Stephen Koukoulas, illion Economic Adviser
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