Bill payment times drop
Tue, 24 Jul 2012 11:05a.m.
Businesses are paying their bills back as quickly as they were before the global financial crisis.
The average payment time peaked at 51 days in late 2008, but is now down to 42.2 days.
“Business-to-business payment data is one of the best indicators of cash flow and financial stability, as it reveals how a firm is meeting its existing financial obligations," says Dun & Bradstreet New Zealand general manager John Scott.
“In particular, the last 12 months have seen businesses pay their bills significantly faster, providing further evidence of an improved trading environment.”
Mr Scott says Australia lags well behind at 53.6 days.
The biggest improvements came in the communication sector, utilities, agriculture and public administration.
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