“Year-over-year numbers have not been encouraging of late,” warns National Asscociation of Credit Managers’ economists Chris Kuehl, noting that the “nice little run of steady improvement in NACM’s Credit Managers’ Index seems to have come to an end.”
as the index suggests the credit cycle is back at its weakest since 2009…
As credit extended is tumbling… not at all what The Fed wants…
As Bankruptcies soar…
And breaking another narrative that the service economy will support the economy despite manufacturing’s collapse…
“The dark clouds on the manufacturing horizon include a decline in the sales of new cars and the potential drop in export demand as the dollar gains a lot more strength against the pound and the euro. How this will all play out remains to be seen,”
…Kuehl concludes,
“The service sector is leading that decline after some months of good news. The summer has not yet been a positive experience, and global issues are depressing the average business and consumer even more.”
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