The latest update on our regular tally of debt in the wider building channel from CreditWorks (www.creditworks.co.nz) reveals that although debt exposure on the database has reduced slightly (to just over $1.6 billion), however this levels is still above last year’s comparative figure of $1.5 billion.
(See the graph above for the bigger picture.)
Overall DSO slightly improved
As a result, says CreditWorks’ Alan Johnston, there has been a slight reduction in the overall DSO figures throughout the different sectors. Over all the sectors, DSO has fallen slightly from May’s 47 days. (See the graph below for more detail.)
Overall picture “stable”
Within the building associated sectors CreditWorks saw the main DSO improvement come from the Building Material (dipping under 60 days for the first time since November last year) and Electrical suppliers although, as expected, figures overall were relatively stable.
You can see the previous updates in this series here.