Newly released payment statistics for September 2019 are a ‘mixed bag’ with Days Beyond Terms (*DBT) figures across all sectors and regions seeing an overall increase by 0.4% and 0.9 days respectively.
The Energy Supply sector has had a positive month and figures show this sector has reduced its DBT by 4.3 days. This is in stark contrast to the majority of sectors who have experienced a disappointing month, showing an overall increase to payment terms. October was particularly tough for the Mining and Quarrying sector which has seen a substantial leap to in DBT to 21.5 days (up 7.1 days) and making it the worst-performing sector. Other sectors to experience an increase in DBT is IT and Comms (+5.3 days), Business & Admin (+ 3.5 days), Agriculture, Forestry and Fishing (+3.3 days), and Water & Waste (+ 2.2 days). Despite a slight increase in DBT, Public Administration remains the best performing sector.
Looking at those statistics from a regional perspective, most areas have seen an increase in payment terms – although fortunately not dramatically. Northern Ireland is the worst-performing region following an increase in payment terms by 2.8 days. Other regions to experience an increase in payment terms include the West Midlands (+2.3 days), North West (+2.1 days) and East Anglia (+2 days).
Two regions from the 11 did show improvement in reducing payment terms; East Midlands (- 3.4 days and the South East – that has now moved to be the best performing region due to its decrease of payment terms by 1.2 days.
Top Five Regional Prompt Payers
South East -1.2 days (9.9 days in September 2019)
South West 1.1 days (10.9 days in September 2019)
Wales 1.3 days (11.7 days in September 2019)
East Midlands -3.4 days (12.2 days in September 2019)
West Midlands 2.3 days (12.3 days in September 2019)
Top Five Regional Poorest Payers
Northern Ireland 2.8 days (14.8 days in September 2019)
East Anglia 2 days (13.6 days in September 2019)
North West 2.1 days (13.3 days in September 2019)
Yorkshire & Humberside 1.2 days (13 days in September 2019)
London 0.6 days (12.8 days in September 2019)
Top Five Sector Prompt Payers
Public Administration 0.8 days (6.5 days in September 2019)
International Bodies 1.6 days (7.7 days in September 2019)
Health & Social -0.4 days (8.3 days in September 2019)
Entertainment 0.3 days (8.8 days in September 2019)
Hospitality -1.9 days (8.9 days in September 2019)
Top Five Sector Poorest Payers
Mining & Quarrying 7.1 days (21.5 days in September 2019)
Business from Home -7.6 days (16.2 days in September 2019)
Business Admin & Support 3.5 days (15 days in September 2019)
Energy Supply -4.3 days (14.9 days in September 2019)
IT & Comms 5.9 days (14.6 days in September 2019)
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