New Zealand Late Payments Analysis
illion’s New Zealand Late Payments report for the June Quarter 2018 is out today. Click here for the full report and media release.
Our analysis found the average late payment time for a New Zealand business rose 10 percent to 6.8 days during the 12 months to 30 June 2018. Despite the rise, New Zealand’s figure remains well below the Australian average of 11 days. The current difference between the two countries is the closest it has ever been, after Australian businesses reduced late payment times by 25 per cent in FY2018.
“Higher late payment times fit with the run of mixed news on the economy, which has seen the Reserve Bank of New Zealand present a more cautious approach to the interest rate outlook. If late payment times continue to rise, it will likely be a factor working against an increase in the official cash rate and could even open the door for the next move in rates being down.”