Listen: Here's What Key Recession Indicators Show

⚡ Extra Credit is BACK with a hot new episode! ⚡🎙 This week we spoke with Amy Crews Cutts about the September Credit Managers' Index results AND what some key recession indicators are currently showing.Check it out! 
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Federal Reserve Expects Unemployment to Rise

​The Federal Reserve ramped up its fight against inflation last week with a 0.75% rate hike and hinted to more interest rate increases in the future. The Central Bank expects a jump in unemployment as a result. "There will very likely be some softening of labor market conditions," Fed Chair Jerome Powell said during a press conf...
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Bounce Back from Workplace Burnout: Podcast

💼 Workplace burnout is becoming more common. Listen to the 2️⃣5️⃣th episode of NACM's Extra Credit podcast to learn how to spot the signs of burnout in yourself and your staff. 
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Podcast: Fraud in B2B Credit Management

🎙 This week's episode of NACM's Extra Credit #podcast is all about fraud. Credit departments have reported an increase in attempts to setup fraudulent accounts, and fraud can even take place during your product's journey to the customer. Learn how to spot fraud before it happens at every step of the order to cash process. 
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3 Trends in B2B Credit: Podcast

 ⭐ This week's episode of NACM's Extra Credit podcast hits 3️⃣ major trends in the B2B credit world!1. The manufacturing sector is indicating recession conditions, according to the latest CMI report. Hear from Amy Crews Cutts;2. Commercial bankruptcy lawyers discuss the latest trends. Hear from Sharon Beausoleil;3. and how to make an argu...
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Motivate Your Credit Department with Metrics: Podcast

What you do with the findings of metrics is as important as the metrics themselves. Several credit leaders in this week's episode of the Extra Credit podcast choose to use the results as a way to motivate their staff, whether it be with cash or the option the work from home. 
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Natural Disasters are a Double-Edged Sword for Construction: Extra Credit

? This week's episode of the Extra Credit #podcast is all about the construction industry! Listen here.  ? As severe weather events become more common, the construction industry will play a pivotal role in disaster preparedness and recovery. But with more opportunity comes more risk.⭐ Be sure to share with all your construction credit fri...
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Inflation Rates Slow Across the US

Kendall Payton, editorial associateThe consumer price index (CPI) rose 8.5% in July, compared to a 9.1% year-over-year increase in June. The drop in gas prices is a notable indicator of slowing inflation, but rates continue to increase among food and energy prices. The food index has increased 10.9% in the past year, the fastest pace since May 1979...
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New Extra Credit Podcast Episode is Available Now!

Stop what you're doing (or keep doing what you're doing) and listen to the first Extra Credit #podcast episode of August!This week's episode covers two important topics--a circuit court decision regarding the new value defense AND an update on sanctions against Russia.⭐ Hear from our expert guests, Bruce S. Nathan; Mike Papandrea; and Lizbeth Rodri...
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China Blocks Some Trade with Taiwan After Pelosi Visit

China suspended some trade with Taiwan in retaliation for hosting a visit with U.S. House Speaker Nancy Pelosi. China blocked imports of some fruits and fish from Taiwan, and exports of natural sand to the island, according to CNN."China is Taiwan's largest trading partner, with bilateral trade worth $273 billion last year, accounting for 33% of th...
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Shipping Costs Rise Even as Demand Drops

Although consumer demand is starting to soften, shipping prices are bolstered by container shortages and port congestion, said Lori Ann LaRocco, CNBC senior editor, during a news report. "East Coast [port] congestion has created a floor in prices at around the $9,000 range," she said. "Because congestion takes boxes out of the supply for future use...
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Are We Closer to a Recession? Extra Credit

? The July Credit Manager's Index shows weakness in the U.S. economy, but does it spell recession? Listen to this week's episode of NACM's Extra Credit podcast to find out! ? Hear from Amy Crews Cutts; Cody Christensen; and Chris Myers on a variety of topics ... including virtual onboarding and using metrics to improve the efficiency of e...
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Senate Passes Bill Aimed at Boosting US Semiconductor Production

The U.S. Senate voted 64-33 today to pass a bill, known as the CHIPS act, aimed at boosting domestic semiconductor production. The bill now goes to the House for approval before it can be signed by President Joe Biden. "These investments will go a long way in reversing the decline in federal [research and development] that has dropped threefold sin...
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Another Large Rate Hike Expected as US Inflation Climbs

Inflation reached a new 40-year high last month, a sign that demand is still hot. But other signs show the U.S. economy slowing—putting the Federal Reserve into a tricky situation. The Fed is expected to raise interest rates another 0.75% tomorrow, according to The Wall Street Journal. "They have increased rates at a historically rapid pace this ye...
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Listen to the Latest Episode of Extra Credit!

 ⭐ There's some truth behind the old adage--teamwork makes the dream work! 29% of credit professionals want more cross-functional training within their company and departments.? Listen to this week's episode of our Extra Credit #podcast to learn how collaboration across departments can benefit credit and collections.
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Diesel Prices Trend Downward for Fourth Week

The national average for a gallon of diesel fell 13.6 cents to $5.432, the fourth straight week costs have dropped, according to the U.S. Energy Information Administration. "Demand has plummeted in anticipation of a recession, in addition to fewer consumers traveling than normal for the July holidays," reads an article from FleetOwner. "National cr...
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New Immigration Bill Could Help Lower Food Costs

The U.S. Senate is working to a close a deal on an immigration bill called the Farm Workforce Modernization Act, which famers say could help them hire more workers, thus reducing food costs, NPR reported. The bill is focused mostly on "updating the food production workforce, a system some call outdated and that has led to higher food prices especia...
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Training Future Credit Leaders: Extra Credit

? Did you know ... 46% of credit professionals describe their department's onboarding process as meticulously detailed and documented, while 27% describe it as learning on the fly or loosely documented. ⭐ The onboarding process is one of the first steps in building future credit leaders! Listen to this week's episode of Extra Credit ? to hear ...
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Inflation Surges to New Record in June

U.S. inflation reached another 40-year high in June as gas, food and rent costs continues to climb. Prices increased 9.1% year over year, up from 8.6% in May, and surpassing the estimates of many economists who thought inflation peaked."There may be some relief in the July numbers—commodity prices have come off the boil, at least—but...
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Biden and Mexico’s President Meet to Discuss Trade, Immigration

President Joe Biden and Mexican President Andrés Manuel López Obrador met earlier today to discuss immigration, trade relations and the war in Ukraine. The meeting comes after Obrador skipped the Summit of the Americas following the U.S. decision not to invite leaders from Cuba, Nicaragua and Venezuela. Despite recent tensions between both cou...
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