Coface released its payment survey results of the fourth quarter of 2009. The key highlights are:
Late payments were reported by 26.7 percent of respondents – 17 percent less than in Q3, and representing the third consecutive decline since a peak of 40.2 percent of buyers reporting late payments in Q1 2009. Meanwhile, default payments were reported by 4.5 percent of buyers – 35 percent less than in Q3, and just over half the peak of 8.6 percent in Q1 2009.
After a peak in Q3 at 11.5% of respondents, late payments of Hong Kong buyers declined to 9.6%, the lowest level since the beginning of 2008. Reports of payment defaults rose in late 2008, and fell to 1.4 percent in Q4.
Reports of late payments by buyers in China were down slightly in Q4 – reported by 7.2 percent of respondents, compared to 7.9 percent the previous quarter. This was the lowest figure since at least Q4 2007. Reports of default payments dropped from 2.0 percent in Q3 to 1.2 percent in Q4, the lowest record since Q4 2007.
Relevant charts about the survey results are included in the Coface press release.
Source: Coface Press Release
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