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March CMI Erases 2025 Gains Under Continued Uncertainty

NACM’s Credit Managers’ Index (CMI) deteriorated 1.6 points to 53.3. “The CMI lost some momentum in March after last month’s solid improvement,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “The deterioration was broad-based, with six of ten factors declining from the February survey.”
 |  Sara Asomaning, Managing Editor  |  ,

NACM’s Credit Managers’ Index (CMI) deteriorated 1.6 points to 53.3. “The CMI lost some momentum in March after last month’s solid improvement,” said NACM Economist Amy Crews Cutts, Ph.D., CBE. “The deterioration was broad-based, with six of ten factors declining from the February survey.”

The Index for Unfavorable Factors remained in expansion territory, at 51.2 points. For the past four years, this index has been fluctuating in a narrow range near the threshold line.

Favorable factors fell 3.8 points this month. Though it remains in expansion territory, all components of favorable factors slid, with dollar collections seeing the largest deterioration.

What respondents are saying:

  • “Since the tariffs were announced, I’ve seen two price increases and also an increase in orders as my customers tried to get ahead of the levies.”
  • “There is concern regarding cash flow on federal construction projects due to the random blocking of various federal grants and payments already budgeted and approved for dispensation.”
  • “We expect to see more mergers and acquisitions this year as well as an uptick in bankruptcies.”
  • “More smaller customers are closing their doors without filing for bankruptcy. They state they have made the decision to close and do not have money to pay any creditors.”

Your participation in the CMI matters. Strengthen the voice of credit by taking a few minutes to participate. The survey opens Monday, April 7 and closes Tuesday, April 15. View the full report here.

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Sara Asomaning, Managing Editor

Sara Asomaning holds a B.S. in English from Towson University. With a background in writing, copyediting and proofreading, she has a keen eye for detail. Outside of work, she spends much of her time being creative with music, photography, and social media content creation.