Credit Managers’ Index (CMI) Archive

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) improved 1.2 points to 54.5. “There was a large and positive reversal of trend in favorable factors at the end of the year, although unfavorable credit factors remained subdued,” said NACM Economist Amy Crews Cutts, Ph.D., CBE®. “Respondents continue to indicate signs of stress among customers whether they are asking for extended terms or disputing more invoices, yet sales activity and credit applications point to growth.” Unfavorable Factors fell 1.1 points to 49.1 points. Like the month before, the Index has not moved …

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) slid 2.2 points to 52.8. “Respondents continue to report numbers that are consistent with an overall trend of expansion, though that strength may be waning as comments suggest that financial stress is growing,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “A theme in the comments this month is that, in order to prop up sales, margins have been trimmed. While this strategy works in the short term, eventually firms will have to raise prices.” The Index for Unfavorable Factors declined 0.1 points to 51.0 points. The Ind…

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) for November 2025 improved 0.5 points to 55.0. “This is the third month in which the CMI data is showing continued expansion, consistent with the trend that we’ve seen for the past two years,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “Worryingly, the comments from respondents also continue to be strongly negative, showing significant stress behind the numbers.” The Index for Unfavorable Factors has not wavered much above or below the 50-point line which denotes the break between contraction and expansion. It gain…

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) for October 2025 improved 2.1 points to 54.5. “The index recovered most of last month’s drop and remains in expansion, but the statements made by respondents are worrying,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “The respondent comments are starkly negative, citing increased business failures and bankruptcies, lien filings and demands for extended terms.” The Index for Unfavorable Factors improved 1.6 points, sitting at 50.4 points after being in contraction last month. Disputes slipped 0.3 points to 48.8…

Metrics are a key part of how credit managers track their company’s performance, from how many customers are paying late to the number of new credit applications. There is a lot of internal data to consider when working in credit, but how often do credit professionals look outside their own metrics?  Why it matters: When credit managers focus only on their own performance metrics, they risk missing larger trends in the economy until those trends start to impact their company. By reading economic forecasts, metrics surveys and the news, credit managers can maintain a strong awar…

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) for July 2025 improved 0.2 points to 54.3. “By the numbers, based on what has already occurred, the NACM Credit Managers’ Index is showing continued resilience,” said NACM Economist Amy Crews Cutts, Ph.D., CBE.

NACM’s seasonally adjusted combined Credit Managers’ Index (CMI) for June 2025 deteriorated 0.6 points to 54.1. “The CMI continues to show resilience in the face of great economic uncertainty in the U.S., and globally,” said NACM Economist Amy Crews Cutts, Ph.D., CBE.

Every month, credit managers from across the United States complete a survey reporting the conditions of their last monthly business cycle, looking at their sales, credit applications and the accounts placed for collections. The survey is compiled into the Credit Managers’ Index (CMI), a monthly forecast that shows how the current economy and business environment are impacting customer behavior and, consequently, the day-to-day work of credit managers.