Fewer non-payments in 2013 for Italian companies, but more severe

First signs of recovery seem to have emerged in Italy and this is expected to continue through 2014. At the end of 2013, non-payment rates reflected a transition phase with a slow exit from the crisis. In 2013, Italian companies' non-payments decreased in terms of frequency, both domestically (-18%) and in export markets (-17%) compared with 2012. However, the severity rate increased both domestically (+9%) and abroad (+ 6%). More worryingly, in December 2013, average outstanding amounts of domestic non-payments stood 78% above 2007 levels.

In the domestic market, steel and commodities are the sectors showing turbulence. In the export market, non-payment rates are growing in the construction and automotive sectors.

The 2014 outlook for non-payments among businesses should be a slight improvement in severity, thanks, among other things, to the economic recovery.

Fewer non-payments in 2013 for Italian companies, but more severe - Report