Daily News: February 28, 2013

NACM: Economy Has Stalled

According to the National Association of Credit Managers, the composite reading for the Credit Managers’ Index (CMI) this month is exactly the same as it was in December 54.9. This is just slightly better than it was in January when the reading fell to 54.6.

The NACM said, “For all intents and purposes, the readings suggest that the economy has stalled.”

New credit applications fell off from 57.1 to 56.7, suggesting more caution is being expressed in the business community in the face of political uncertainty. Conversely, there was improvement in dollar collections, from 56.9 to 57.5, and in amount of credit extended, from 62.2 to 62.5, the NACM said.

To read the full report click here.