The Economy Shows Continued Growth

The U.S. economy continued to grow in April, though at a slower pace, according to the National Association of Credit Management's Credit Manager's Index (CMI). The combined CMI picked up 210 basis points, the highest level since the Index was begun in February 2002. NACM reported sales are up, new credit applications and credit extended remain strong while dollar collections were "excellent" and aging of accounts had improved. Though bankruptcy filings were down, disputes increased.