The average late payment time for a New Zealand business has fallen to a record low of 5.1 days, according to illion’s analysis for the December 2018 quarter.

The result, for the end of the December quarter 2018, surpasses the previous record of 5.3 days set in the December quarter of 2016.

A standout is the agriculture sector, which improved its late payment record by a huge 32% on the December 2017 quarter, and is down to an average of only 3 days.

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