Credit trends are improving, though the number of company liquidations remain high as tax debt collection has intensified following a more lenient approach taken during the Covid years.
Credit reporting service Centrix said there was a 12% drop in the number of customers with debt arrears in August over July, or 1.8% on the year earlier.
“Consumer arrears, year on year have improved, and that’s a trend which is good. And if we start to see consumer sentiment improve, then that should flow through into businesses which will be a really positive outcome for New Zealanders,” Centrix chief operating officer Monika Lacey said.
Credit demand was strengthening, with consumer credit demand up 5.6% on last year, led by strong growth in personal…