Credit payment lag highest since Sept.

The average mutually agreed credit period rose to 88 days in August compared with 86 days in July, while the average arrears period was 13 days in August compared with 12 days in July.

By SHARON WROBEL
September 7, 2006 07:20
credit cards 88

credit cards 88. (photo credit: )

 
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Following a bad month in July, when the fighting in the North started, the level of credit payment days reached a new peak in August, during which the highest number of 101 days since September last year was registered. In August the number of actual credit days increased by three days to 101 compared with the previous month, according to a Business Data Israel report, because of cashflow difficulties and payment irregularities during the war. The average mutually agreed credit period rose to 88 days in August compared with 86 days in July, while the average arrears period was 13 days in August compared with 12 days in July. BDI economists predicted further increases in credit payment days in coming months.

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