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NACM’s Credit Managers’ Index drops even further in March

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 March’s economic report from the National Association of Credit Management dropped to the lowest it’s been this year. The combined index fell from 53.2 in February to 51.2 this month.

Columbia, MD: March 31, 2015—The March report of the Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) fell further this month indicating that some serious financial stress is manifesting in the data.

“We now know that the readings of last month were not a fluke or some temporary aberration that could be marked off as something related to the weather,” said NACM Economist Chris Kuehl. “These readings are as low as they have been since the recession started and to see everything start to get back on track would take a substantial reversal at this stage.”

The combined score of 51.2 is moving dangerously close to contraction zone. The index of favorable factors dropped to 55.4 while the unfavorable factors drastically fell to 48.5—a place this index has not seen since after the end of the recession. “The signal this sends is that many companies are not nearly as healthy as it has been assumed and that there is considerably less resilience in the business sector than assumed,” said Kuehl.

NACM’s Credit Managers’ Index for February on a Decline

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February's economic report from the National Association of Credit Management dropped to the lowest it's been this year. The combined index fell from 55.1 in January to 53.2 this month.

Columbia, MD: February 27, 2015–The February report of the Credit Managers' Index (CMI) from the National Association of Credit Management (NACM) significantly dropped this month, an unexpected decrease given where projections were a few months ago. The monthly economic indicator's combined scored declined to 53.2 in February, down from 55.1 in January.

"That is a nasty drop and at no point in the last year has it been that low," said Chris Kuehl, Kansas City-based NACM economist. "In December it stood at 54.9 and that was seen as bad enough. The reduction in the overall score was reflected in reductions across the board­­—favorable and unfavorable factors and in both the manufacturing and service sectors."

The survey measures activity in manufacturing and service sectors among business-to-business credit professionals. According to the survey, the index of favorable factors fell to 57.2 and sales dropped to 59.—both categories falling from the 60 range since March 2014. The new credit applications category also set a record, dropping from 58.3 to 54.4.

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