Late payment in the construction industry improved slightly in the second quarter of 2012, data has revealed.
The Late Payment Index from information services firm Experian showed that firms in the sector paid overdue bills in an average of 21.35 days beyond terms in the second quarter of 2012.
This was down from 21.51 days in the previous quarter, and from 23.07 days in the same quarter a year earlier.
Across all sectors, the average wait for payment of late invoices was 23.46 days after terms – down from 24.67 in the first three months of the year.
Max Firth, UK managing director for Experian’s Business Information Services division, said: “This is the third consecutive quarter of improving payment performance, which means that cash flow among firms is getting better.