NACM’s Credit Managers’ Index (CMI) turned around as the summer comes to a close, showing positive readings for the first time in two months. These higher readings show signs of stability for the near future, though the stability may not last with the threat of inflation and on-going trade wars.
The combined CMI score for August went up by 0.3 points, with the most increase seen in the favorable sectors. The unfavorables, however, began to approach a score less than 50—falling dangerously close to contraction territory.
Much like last month’s reading, this month saw the most positive readings in the manufacturing sector. Credit managers reported an increase in the amount of credit extended and also sales, along with more credit applications and dollar collections.
The service sector only gained a tenth of a point this month, with dollar collections and new credit applications the only factors that saw an increase from July. Sales saw the least improvement and extending credit did not see much improvement either.
For the full report, visit nacm.org. Be sure to participate in the September CMI when the survey opens on Monday, Sept. 10. The survey will close on Friday, Sept. 14, so stay up to date by visiting the NACM website for more information.
—Christie Citranglo, editorial associate