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Despite a significant decrease in 2018, at 74 days, the average DSO reported by survey respondents in Italy remains the highest in Western Europe.

Most respondents in Spain have felt the impact of overdue invoices; 22.4% had to postpone payments to their own suppliers and 20.3% reported revenue loss.

The proportion of past due B2B invoices in Sweden has sharply increased from 26.7% in 2017 to 34.0%. Foreign B2B customers had a much higher default rate.

92.5% of Swiss respondents said that they experienced late payment in 2018. This is one of the highest percentages next to that of Austria and Belgium.

In 2018, the average DSO recorded in the Netherlands is 46 days, an increase of five days compared to 2017. This is the biggest increase in Western Europe.

Economic growth is expected to remain robust in 2018 and 2019, but the economy is highly vulnerable to adverse developments in the automotive sector.

Bulgaria´s economic growth is forecast to remain robust in 2018 and 2019, as household spending is spurred by wage growth and an improving labour market.

After growing 4.5% in 2017 Czech GDP growth is expected to increase at a slower pace in 2018 and 2019, as Eurozone and domestic demand are cooling down.

After increasing 4% in 2018 GDP growth is expected to decelerate to below 3% due to lower household consumption and less investment and export growth.

In Central Europe, Poland's economy looks most vulnerable to the financial and economic fallout of the United Kingdom's decision to leave the EU.