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Credit Index Slips.
Columbia, MD -- The seasonally adjusted credit managers index published by the National Association of Credit Managers fell in November, a trend that adds to concern about the economy slipping into recession.
The NACM said the index decline, while relatively small, cut across a number of sectors. Five of the six unfavorable factors judged by participants in the survey fell to a level below a score of 50 in November, which the NACM says indicates a contraction.
This is the first time that there has ever been more than four components indicating contraction since the inception of the CMI in 2002, and it could well be a harbinger of things to come, said Daniel North, chief economist with credit insurer Euler Hermes, in a news release.
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