The National Association of Credit Management's (NACM) Credit Managers' Index fell to 56.1 in June from 56.8 in May. NACM had expected the Index would show progress but a flat manufacturing sector and sharp decline in the service sector were enough to drag down the overall Index.

The reading had been approaching 60 (57.1 in November and 57.3 in January) and remain firmly in positive territory but it is no longer moving higher, according to NACM.

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