In each of the first three quarters of the year, factoring continued its sustained growth rate of approximately +14%. This resulted in a sharp upturn in activity for the first nine months of 2014, compared to the preceding two years.
|Yearly change in production* (%)
||Production* for rolling year (€ billion)
*Amount of receivables assumed under a factoring contract- Excluding floor plan and forfaiting transactions- Quarterly data
The amount of receivables assumed by factoring companies for the third quarter of 2014 was up +13.7% at €54.6B, compared to the same period in the preceding year. Although there is a very slight deceleration, this rate confirms the sustained pace of growth recorded since the beginning of the year (+14.1% in terms of yearly change for the first quarter and +14.3% in the spring).
For the first nine months of 2014, production in factoring companies grew +14% compared to the same period in 2013, marking a sharp upturn in activity compared to the preceding two years. At the end of September, the accumulated production for the preceding four quarters had risen to €220B, an annual business volume three times greater than 10 years ago.