The Credit Managers' Index (CMI) from the National Association of Credit Management (NACM) fell from 54.5 to 53.4 in July. For the first time in over a year, sales fell below 60, and by a significant degree. The reading of 58.5 is worse than at any point in 2011. The new credit applications index sits at 57.2, a long way from the 61.9 registered in January when expectations were upbeat. There were also declines in dollar collections and amount of credit extended.Click to continue
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