Credit Index shows economic expansion - NACM Credit Manager's Index
The US economy continues to show “surprising resilience” as manufacturing and service sectors indicate further economic expansion, according to economic analysis released by the National Association of Credit Management (NACM) and provided by Euler Hermes ACI chief economist Dan North.
The NACM Credit Manager’s Index (CMI) fell a modest 0.6% for the month of April on a seasonally adjusted basis. The decline was comprised of a 1.7% fall in the service sector index and an offsetting rise of 0.5% in the manufacturing sector index. “While there was no particular concentration of changes in the components, the surprising resilience of the economy continues to shine through,” commented North. “For the first time since July of 2004, all of the components in all of the indexes are above the 50% mark, indicating economic expansion.
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