The crisis is also weighing on IOUs, which between January and May 2014 decreased by a quarter compared to the same period last year. This is one of the data that emerges from the analysis of the trend of protests in the Italian provinces on the basis of data collected by the Chambers of Commerce and processed by InfoCamere on behalf of Unioncamere.
Among the hypotheses that can explain this trend, on the one hand there is the greater caution of consumers and businesses to take on economic commitments, even in the short term; on the other, the growing difficulty of possible creditors in accepting payments deemed unreliable.
In this scenario, the bill of unpaid debts amounted to just over 800 million euros at the end of May, against almost 1,3 billion in the same period of 2013. In relative terms, between January and May 2014 the protests decreased a total of 24,5% in number and 36,2% in value. The decrease concerned all types of bills: from checks to bills of exchange to drafts. In particular, checks canceled due to lack of funds decreased by 28,6% in number and by over 33% in amount (the average value decreased by 7%).
Indicators with a minus sign also for bills. In the first five months of 2013 over 424 thousand were signed (for over 757 million euro); this year however the number has dropped to 325 thousand for a value of just under 470 million euros and an average value that fluctuates around 1.500 euros (-19% compared to 2013).
Finally, drafts, a residual payment instrument but still in use in the business world, are also decreasing: the number of those not collected in the first five months of 2014 decreased by 34,8%, as did their total value by over 39%. Each type of protest affects the total amount of bills raised in a very different way. Bills of exchange exceed 80%, growing continuously in recent times, while checks account for almost 20%.
From the analysis of the percentage composition of the value of the securities, however, it can be seen that the contribution of bills of exchange to the total amount drops to 58%, while that of checks jumps to a significant 41%, a share even higher by 21 percentage points than at its own weight on the total IOUs collected by the Chambers of Commerce.
Total protests
In absolute value, the data indicate that in the period January-May 2014 the regions where the failed payment promises were most concentrated were Lombardy, Lazio and Campania with a total overdraft amounting, respectively, to 142, 127 and 114 million euro . Lombardy in the lead even if you look at the number of protests overall, almost 63 thousand, followed by the pair Campania and Lazio with 60 and 56 thousand respectively.
The ranking changes if the average value of the "buffalo" is taken into consideration: the highest bill is presented in Emilia Romagna, with protests worth an average of 2.335 euros against a national average of 1.992 euros. Next, separated by a few euros, are the Marches and Lombards who, respectively, have signed commitments with an average value of 2.271 and 2.269 euros.
The medal of the most virtuous region in the first part of 2014 goes to Valle d'Aosta, where, however, unpaid securities are not widespread: overall, the protests raised compared to the same period of 2013 decrease by a third (-32,5, 34%) in terms of number and 41,6% in value. Lazio is one percentage point behind (with a reduction in the value of bills collected equal to 31,3%), followed by the Marches where the number of protests dropped by XNUMX%.
In meeting deadlines, the least diligent and punctual appear to be the Romans, Milanese and Neapolitans, who concentrate the highest number and provincial values in the period: in these 3 provinces, over a quarter (25,7%) of all the national outstanding of the period. Instead, Belluno and Gorizia have the primacy of the least indebted.
On the other hand, Prato and Ravenna are home to those who, on average, sell the saltiest "buffalo": the average values of the overall protested titles are close to 5 thousand euros.
