Businesses are slow to pay their bills, a Dun & Bradstreet survey shows.
Its Trade Payments Analysis shows that the average trade payment period in the March quarter across all industries increased by 1.1 days from the December quarter to almost 46 days.
Trade payment periods have been
at alarmingly high levels since 2001, with businesses averaging 45.8 days to pay accounts during the past six years. A peak of 51.9 days occurred in 2001 and a low of 40.9 in 2004.
D&B New Zealand general manager John Scott said the trade payment period had been improving before it deteriorated in the March quarter.
The agriculture, forestry and fishing and mining industries improved their payment period by 1.2 days and one day respectively since the December quarter.
All other industries, except construction, which remained unchanged from the previous quarter, increased payment periods.
- NZPA
