Magazine article Business Credit

Report for November 2011

Magazine article Business Credit

Report for November 2011

Article excerpt

The CMI remained largely unchanged for the third consecutive month, dropping slightly to 53.5 from 53.7. While not ordinarily great news, given September's strong data, it is not altogether a bad thing that October and November staved much the same.

The most negative news came in sales, which tumbled from the 61.4 high reached in September to 58.2 in November--the lowest reading in the last year. The decline was seen across the board in both the manufacturing and service sectors. Some of this is to be expected as the end of the year draws closer, and there is reason to expect gains in the months to come if the data on capital expenditure planning is reliable.

Other favorable factors carried better news. Dollar collections improved marginally from 56.8 to 56.9, which marks the second best performance since July behind the jump to 57.8 in September. Even better news came in the amount of credit extended, which moved from 61.9 to 62.4, higher than any month since April. Overall, the index of favorable factors faded slightly from 59.5 to 58.8. This is not a dramatic decline, but it takes the index to levels seen in the depths of the summer, which is a bit of a concern. …

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