Our End of June Insights provide a mixed picture.
June having 18 “Business Days’ will have impacted the data for the month both on Sales and Payment Performance.
The Sales data trend continues to be flat across a majority of industries. Concrete was the stand-out for those that were able to buck the trend.
Changes in tax thresholds and potential interest rate relief will not impact sales for sometime into late 2024 and early 2025. The headline “Survive to 2025” is very much the theme for businesses in Retail / Hospitality and those related to discretionary spending.
June saw a marginal increase in 60 Days and 90 Days arrears data results, an area to watch over the coming months to see if a new trend is emerging.
In a reversal of last months results we see predominantly negative data in our
Industry Days Sales Outstanding. Again this can be partly attributed to the lower number business days in June impacting on credit collection activity, July will show if this is an ongoing trend in payment performance.
On the positive side liquidation activity in June decreased but having seen the recent graph for July, there is an increase in Winding Up applications by the IRD.
CreditWorks Group holds New Zealand’s largest trade database, and we have the very best view of commercial credit performance for over 30 industry sectors in New Zealand with most sectors over the 80% market info and some at 100% coverage. Discuss with us today how we can help you with comprehensive credit reporting and monitoring of your customers. Our goal is to help you grow sales while minimising risk.
Please note that due to the vast amount of data required to produce these reports, most of which is accessed from a multitude of external sources, there is an inevitable time delay in their generation. However we prefer to defer their publication in favour of ensuring greater accuracy.
