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The seasonally adjusted Credit Manager's Index for March rose slightly to 43 from 42.5 in February and 40 in January. Index increases the last two months broke a string of consecutive declines that began in August 2008, according to a report by the National Association of Credit Management. The index, a gauge of economic factors affecting credit and collection professionals, was down 6.9 points from 49.9 in March 2008, reports Collections & Credit Risk, a CardLine sister publication. Any score below 50 indicates economic deterioration. The index consists of four favorable factors, such as the amount of credit extended, and six unfavorable factors, such as accounts placed for collection and bankruptcy filings. "Getting back to an expansionary position will not be simple and may take a few more months, but there are more and more signs that the recession may have reached its low point," Chris Kuehl, the association's economist, said in the report. "Given that the most important issue in this recession has been access to credit, it is encouraging to note that the index is showing a pretty significant increase in credit extension, the best numbers since December 2008," Kuehl said.
