US DATA: May Natl Credit Managers’ Index 54.6, vs 55.1 April and
56.2 March. But “favorable factors did not change much-the favorable
index retreated from 60.5 to 60.2. Sales data actually improved from 60
to 61.2, but remains off the pace set earlier in the year when sales hit
64.4. Even better news came from new credit applications, which rose
from 58.2 to 59.9. The retreat, and the bad news, was due largely to the
decline in the amount of credit extended-down from 64.6 to 61.3. Part of
that decline can be attributed to less credit being requested, and more
of those asking for credit being denied.”