As it did in October, the Credit Managers Index (CMI) from the National Association of Credit Management slipped again in December, from 55.2 to 54.9. The most dramatic movement was in sales, which plummeted to 56.7, a low last seen in December 2009 and almost a full point lower than in October 2012.
According to NACM, the decline reinforces the notion that business stalled at the end of last year in anticipation of what could have happened with spending and taxation. There was some cautious optimism last fall, but that optimism has evaporated, the association said.