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Italian firms paying their bills more quickly, says study

Research shows peak of economic crisis may be over

22 January, 15:52
Italian firms paying their bills more quickly, says study (ANSA) - Milan, January 22 - Italian firms were able to pay their bills more quickly in the third quarter of 2013, providing a hint of good economic news, according to research by the Cerved market-research agency.

Between July and September, bills were paid within 77 days on average, about 3.5 days quicker than in the same period in 2012, said Cerved.

As well, business defaults fell by 6% to about 62,000 in the quarter compared to the same period in 2012, it reported.

"The overall situation of the economy is still difficult, but this simultaneous decline of negative phenomena, although not widespread on all areas of the country could indicate the passing of the peak of the crisis," said Gianandrea De Bernardis, chief executive officer of Cerved.

Other analysts say it is still too early to declare the crisis is over.

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