October report from the National Association of Credit Management dismisses September's poor performance. Readings for deductions, disputes and past due accounts climb out of contraction, enforcing the notion of resilience in the economy.
Columbia, MD: October 31, 2014‚ÄĒThe October report of the Credit Managers' Index (CMI) from the National Association of Credit Management returned to a respectable status, jumping more than two points from 54.9 to 57.0. The readings are back to highs seen at the start of the year. The index of favorable factors cleared 60 comfortably and now sits at 62.6, which is still off the pace set in July and August, but is trending in the right direction again. The fall of the index of unfavorable factors to 50.9 last month was concerning as it was the lowest point reached in almost two years, but its impressive gain this month to 53.2 reaches back to March readings. This means that the concerns about the state of creditors have eased a little.