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#Economic publications
Germany: Payment delays reach their highest level since 2019 despite improving economic outlook
Coface publishes the 10th edition of its Corporate Payment Survey in Germany, conducted among 503 companies. While economic growth is gradually returning and German businesses are becoming more optimistic about 2027, this improvement has yet to translate into better payment behaviour. 82% of companies experienced payment delays over the past twelve months, the highest level since 2019. At the same time, businesses are shortening payment terms to protect their cash flow, while long overdue payments and rising insolvencies continue to point to elevated credit risk.
01 / 10 / 2026
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#Economic publications
Late payments in France: 89% of businesses affected – a record high
Coface has published the 4th edition of its survey on the payment behaviour of French businesses, conducted in June amongst 690 companies. The results reveal a further deterioration: 89 % of businesses have experienced late payments over the last twelve months, and the average delay now stands at 41.2 days. Micro-enterprises are the most vulnerable, both in terms of the length of the delays and their impact on cash flow.
29 / 09 / 2026
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#Economic publications
Is Spain becoming a manufacturing champion?
Whilst European industry is still struggling to recover from repeated energy and geopolitical shocks, Spain stands out as an exception. Its manufacturing output has surpassed its pre-war levels in Ukraine, driven by a more balanced industrial diversification, competitive labour costs and the boom in renewable energy. This is a promising trend, but one that still faces several structural challenges, particularly in terms of productivity and electricity infrastructure.
24 / 09 / 2026
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#Economic publications
2026 United Kingdom Payment Survey: UK firms stuck in survival mode as payment delays hold back growth ambitions
Coface, a leading expert in trade credit insurance, debt collection and information services, has published the second edition of its survey (1) on UK companies’ payment behaviour, revealing that businesses are increasingly focused on preserving cash flow and are struggling to make ends meet. As companies extend payment terms to carefully manage cash flow pressures, many are caught in a stagnant cycle of supply chain disruption, leaving profitability finely balanced and investment confidence weakened.
15 / 09 / 2026
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#Economic publications
Copper, nickel, aluminium: the energy transition is set to boost demand for metals by 2035
The energy transition and electrification could profoundly transform global metals markets. Faced with sharply rising demand and an increasingly constrained supply, copper, nickel and aluminum are expected to experience structural shortages by 2035, paving the way for a new bull market in metal prices.
09 / 09 / 2026
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#Economic publications
Low water levels on the Rhine and Danube put the European economy under pressure
The historically low water levels in the Rhine and the Danube are disrupting freight transport, compromising certain energy infrastructure and exacerbating pressures on several European industrial sectors. Whilst water levels are expected to remain low in the short term, their effects could persist over the coming months and affect growth in the most vulnerable economies.
01 / 09 / 2026
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#Economic publications
AI: The Gulf region faces new strategic dependencies
The Gulf states are stepping up their efforts in AI and data centres to prepare for the post-oil era. However, this new frontier in economic diversification exposes the region to unprecedented vulnerabilities: critical infrastructure, technological dependence, a shortage of talent and pressure on resources.
07 / 08 / 2026
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#Economic publications
United States: Washington is tightening its tariff measures and is already preparing its next steps
The United States has replaced its temporary tariffs with new tariffs of between 10% and 12.5% targeting 60 countries, which account for 99% of its imports of goods. This development illustrates Washington’s determination to maintain its tariff strategy whilst preparing for possible new measures.
01 / 08 / 2026
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#Economic publications
The United States, Canada and Mexico: renegotiating the USMCA will be very difficult, but North American trade will survive
With the United States, Canada and Mexico having begun the formal review of the USMCA , the negotiations are set to be particularly tense. However, despite the growing differences between the three partners, a lasting reversal of North American economic integration remains unlikely, given how deeply entrenched industrial interdependencies have become.
07 / 07 / 2026
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#Economic publications
June 2026 Risk Review: Hydration break in the Persian Gulf
As the Middle East moves towards a fragile lull in hostilities, the economic shock caused by the conflict – supply chains perturbation, inflation… - is already spreading to the global economy. Against this backdrop, Coface has carried out 8 country downgrades and 45 sector rating changes (41 downgrades, compared with just 4 upgrades).
23 / 06 / 2026
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#Economic publications
Latin America: companies are tightening credit in the face of rising late payments
In an uncertain economic climate, companies in Latin America are tightening their credit terms to protect themselves, but without managing to stem the rise in payment delays. Nearly 8 in 10 companies are now facing payment delay, a rising figure, despite shorter payment terms. This dual trend illustrates the mounting cash flow pressures in the region, against a backdrop of high financing costs and fierce competition.
16 / 06 / 2026
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#Economic publications
Insolvencies are on the rise again against a backdrop of a deteriorating economic climate
The global business climate is deteriorating at an accelerating pace: business insolvencies surged by 12% in early 2026, driven by North America (+22%). Against a backdrop of geopolitical tensions and mounting cost pressures, Coface now forecasts a 6% rise in insolvencies worldwide for 2026.
12 / 06 / 2026
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#Economic publications
Middle East: a cost shock, not (yet) a supply shock, for China
Better equipped than its competitors to deal with energy shocks, China is currently limiting supply disruptions linked to tensions in the Middle East. However, rising input costs, combined with a slowdown in global demand, are weighing on already stretched corporate margins.
13 / 05 / 2026
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#Economic publications
Will Arctic shipping routes really reshape the map of global trade?
The conflict in the Middle East and disruptions in the Strait of Hormuz have highlighted the fragility of the global maritime system. Against this backdrop, Arctic shipping routes are attracting renewed interest as climate change makes navigation along them easier. Coface’s analysis shows, however, that within five years their commercial impact will remain marginal, although they could nevertheless offer significant benefits for certain commodity flows.
16 / 04 / 2026
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#Economic publications
From Safe to Exposed: How AI is redrawing the map of work
More than three years after the launch of ChatGPT, the impact of artificial intelligence (AI) on employment remains largely invisible in aggregate statistics. However, it is beginning to emerge on the fringes in certain segments of the labor market, particularly in entry-level roles within the most vulnerable sectors. By providing a unique mapping of the exposure to AI-driven automation of the tasks that make up different occupations, this joint study by Coface and the Observatory of Threatened and Emerging Jobs (OEM) highlights a shift in the frontier of automation.
01 / 04 / 2026
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#Economic publications
The conflict in the Middle East is causing commodity prices to soar
25 days after the launch of the Israeli American offensive against Iran, disruptions to the supply of raw materials via the Strait of Hormuz continue to fuel prices volatility. For the time being, oil & gas, fertilisers, petrochemical derivatives and aluminium are particularly affected.
26 / 03 / 2026
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#Economic publications
Poland Payment Survey 2026: sustained economic growth yet worsening payment discipline
Coface’s 10th Poland Payment Survey, conducted among 326 companies, reveals a clear deterioration in payment behavior, with average delays extending to 53 days, their highest level since 2021.
24 / 03 / 2026
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#Economic publications
Middle East escalation: Energy at the center, risks far beyond
The military escalation between the United States, Israel and Iran is putting extreme pressure on energy markets. Although no major supply disruptions have been reported yet, the risks surrounding the Strait of Hormuz pose a threat to the global economy if the conflict continues.
03 / 03 / 2026
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#Economic publications
Risk Review: 2026, a moment of truth for the global economy?
Momentum for the global economy has been varied moving into 2026. We expect growth of +2.6% this year – a very minor decrease on +2.8% in 2025 – despite an international environment marked by persistent geopolitical, financial and social risks.
16 / 02 / 2026
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#Economic publications
Tin is riding high on the metals market’s latest surge
A key metal in the electronics industry — solder alone accounts for 50% of global demand — tin is benefiting greatly from energy and digital transitions. However, supply growth remains limited, particularly in the Democratic Republic of Congo (DRC) and Myanmar, which is expected to lead to a supply deficit as early as 2026, the first since 2021.
05 / 02 / 2026
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#Economic publications
Business insolvencies are expected to increase by 2.8% worldwide in 2026
In 2026, business insolvencies are expected to rise again, against a backdrop of gradually easing financing costs. Behind this apparent stabilisation lies a still high level of fragility, particularly in the construction, chemical and textile industries. A rise of just 25 basis points in interest rates on business loans would be enough to upset an easing trend.
22 / 01 / 2026
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#Economic publications
Once upon a wine: is the European wine industry at a turning point?
In early December, the European Commission approved a support plan for the wine industry, which is facing unfavorable economic conditions and growing structural difficulties. Although substantial, this plan only addresses part of the problem for the time being, overlooking the decline in European consumption and export difficulties.
19 / 12 / 2025
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#Economic publications
Nickel has a future despite low prices
Nickel prices are at a five-year low, but the long-term outlook tells a different story. Read our expert's analysis to uncover the trends and long-term outlook.
28 / 11 / 2025
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#Economic publications
Data centres in the AI Age: stakes, limits and risks of a Trillion-Dollar gamble
Faced with the explosion of AI, data centres are experiencing unprecedented growth, driven by record investments and an unprecedented concentration in the United States. But can this frantic race deliver on the promise of a sustainable transformation of the economy, or does it expose the sector to new risks and major imbalances?
20 / 11 / 2025
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