The Maryland-based National Association of Credit Management said its credit management index fell to a record low in December.
The index hit 52.4 percent in December, a drop of 0.7 percent compared with November. December was the third consecutive month of declines for the index. The index is based on a survey that asks credit managers to rate the favorable and unfavorable factors in their monthly business cycle.
The index’s manufacturing sector actually gained 0.8 percent in December, but that gain was overshadowed by a 2.3 percent drop in the service sector, the association said.
