New Zealanders better at paying their bills than Australians
New Zealand businesses are paying overdue bills more quickly than a year ago, but larger firms continue to be the worst for settling their debts, according to illion’s Trade Late Payments Report for the 2019 March quarter. Payment times for New Zealand businesses have improved by six per cent year-on-year to 6.4 days, significantly quicker than Australians who take 10.4 days.
Key Highlights
“The slower pace of growth in the New Zealand economy has not had a material impact on late payment times. The economy is still registering steady growth, and the unemployment rate is low. The fact that the Reserve Bank of New Zealand has held official interest rates at close to record lows, and has indicated that rates will remain low for some time, is important for business and household cash flows.”
Stephen Koukoulas, illion Economic Adviser