Manufacturing and service sectors trade prior month's fortunes in the November CMI report from the National Association of Credit Management, but largely signal an overall stability and potential for growth in 2014.
Columbia, Maryland: November 27, 2013â€”The Credit Managers' Index (CMI), published by the National Association of Credit Management (NACM), increased to 57.1 in November, registering its highest reading since the beginning of the recession in 2008.
Building on the optimism from October's CMI, where respondents shook off the crisis in Washington to deliver the index's best figures in over a year and a half, November's readings signify a newfound stability in businesses' attitudes on the economy as well as a greater sense of security in their investments. "There is a real sense that credit is more available than it has been in some time, which bodes well for the coming year," said NACM Economist Chris Kuehl, PhD. "This is not to say that a shock to the economy would not force a decline, but more resilience has formed than has been the case."