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Credit Managers Index.

The June CMI fell back to 53.4, mirroring the slide found from February to March. The ongoing inconsistency makes the CMI, among other economic data, most resemble a seesaw, according to NACM Economist Chris Kuehl, Ph.D. "Every month, analysts await a new set of data releases poised to make some declarative statement regarding where the economy is heading--every month, the clear path proves to be elusive once again, said Kuehl. There always seems to be something both optimists and pessimists can latch on to."

The month-to-month changes are not the only "tale of two directions," as Kuehl characterizes it. There are increasingly wide spreads between the favorable factors and the unfavorable factors within both the manufacturing and service sectors.

"The year-over-year trend is not encouraging," Kuehl said. "There has been a distinct downward slide, and it is apparent that conditions were far better in mid-2014 than they are now. That was neither expected nor wanted at this stage of a recovery."

For a breakdown of the manufacturing and service sector data and graphics, view the complete June 2015 report at News Credit Managers' Index. CMI archives may also be viewed on NACM's website.

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Publication:Business Credit
Date:Jul 1, 2015
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