Coface’s Germany Corporate Payment Survey 2022: Battered companies prepare for another crisis
While the difficult economic situation took its toll, the 6th edition of Coface’s survey on corporate payment experience in Germanyindicates that the impact on corporate payments in 2022 appears to be moderate and comparatively lower than the shock on the economy. However, companies are vigilant in the short-term and very pessimistic about the future.
- The number & duration of payment delays has increased, but only slightly and from a very low initial level. This means the payment discipline deteriorated (+6 pp of surveyed companies reporting payment delays in 2022), but it remains below the level observed in 2020 and far below pre-pandemic levels.
- The average duration of payment delays increased to 28.7 days in 2022 (+1 day), after shortening by 7 days in 2021.
- Companies in the paper-packing sector experienced the shortest waiting time this year (average of 18.4 days), while companies in the finance sector had to be the most patient (average delay of 35.0 days).
- The main twist comes however from the economic outlook anticipated by companies. Never in the history of this survey, were companies so negative about their future.
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