Columbia, Maryland: June 27, 2013â€”The June Credit Managersâ€™ Index (CMI) from the National Association of Credit Management (NACM) confirms that the significant growth reported in May was genuine. The June CMI reached 56.1â€”not as dramatic a jump as last month, but still trending in the right direction. The reading is now as high as it has been since before the recession started to drag the economy down.
The index of favorable factors dipped a little, but remained above 60 at 60.8 which bodes very well for the future. Sales remained well above 60, even though the factor slipped slightly from 63 to 62.3, while new credit applications also fell from 59.2 to 58.8. Dollar collections was basically stable, rising from 59.2 to 59.3. Finally, amount of credit extended fell from 65.0 to 62.8. This has been perhaps the steadiest of the favorable factors given its narrow range over the last year: a low of 60.8 in April, with a high of 65.0 in May.