Credit Managers' Index Shows Signs of Retrenchment

After six months of gains, the Credit Managers' Index is showing slower progress, according to the National Association of Credit Managers, Columbia, Md. The index climbed inched up to an August score of 48.3 from July's combined index score of 48. While this represented some positive movement in the index as a whole, there also was some weaknesses in terms of credit availability, credit applications and sales. "This suggests that the proposed recovery is a little weaker than some of the indicators reflect, especially in terms of availability of money," NACM said. "There are some shoes left to drop, most notably the commercial property sector," said NACM chief economist Chris Kuehl. "It is mildly encouraging to note that the index has not fallen, but an anemic .3 gain was much less than had been anticipated," he said. The index had been expected to rise to closer to 50 in August.