January Credit Consensus Indicators (CCIs) – UK, EU and US Industrials


Credit Benchmark have released the December Credit Consensus Indicators (CCIs). The CCI is an index of forward-looking credit opinions for US, UK and EU Industrials based on the consensus views of over 20,000 credit analysts at 40+ of the world’s leading financial institutions.

Drawn from more than 950,000 contributed credit observations, the CCI tracks the total number of upgrades and downgrades made each month by credit analysts to chart the long-term trend in analyst sentiment for industrials. A monthly CCI score of 50 indicates neutral credit quality, with an equal number of upgrades and downgrades made over the course of a month. Scores above 50 indicate that credit quality is improving. Scores below 50 indicate that credit quality is deteriorating.

EU Industrial firms continue their run of positive credit movement, with a 16th month of improvement. UK Industrial firms continue to register a negative CCI this month. US Industrial firms remain slightly positive with a fifth consecutive instance of a positive CCI score.

UK Industrials: Lingering Deterioration

UK Industrial firms continue to register a negative CCI this month.


The UK Industrials CCI score is 48.8 this month, a slight worsening from last month’s CCI of 49.6.


Further train strikes have been announced this week, expecting to cause significant disruptions. Ministers warn of ‘permanent scarring’ left by rolling industrial action.

.

EU Industrials: Modest Improvement Continues

EU Industrial firms have registered another positive CCI for this month, which is the sixteenth consecutive instance of a positive score.


Whilst the trend was dipping close to neutral in Jun-22, the EU Industrials CCI score has remained above 52.3 for the last 5 months. The EU Industrials CCI score is 52.6 this month.


The energy crisis, along with steps taken by the US, China and others, poses a significant challenge and calls for a bold new EU industrial strategy.

.

US Industrials: Improvement Strengthening

US Industrial firms remain slightly positive with a fifth consecutive instance of a positive CCI score.


The US Industrials CCI score this month is 51.1, an improvement from last month’s CCI of 50.7.


In the US, the glory days of manufacturing could once again be possible. Industrial technology companies under-the-radar successes are powering a resurgence in US manufacturing.

.

To download the full CCI tear sheets for UK, EU, and US Industrials, please enter your details below:

    By clicking the "Submit" button, you are agreeing to the Credit Benchmark Terms of Use and Privacy Policy.

    Download CCIs Now

    Sovereign Bond Risk Management

    In the current low yield environment, many Sovereign bonds issued by different countries are priced at similar levels. However, this Read more

    Introduction For Credit Portfolio Managers

    Credit Benchmark is a market-led response to three of the most critical issues facing credit risk professionals: 1) The need to Read more

    Sovereign Default Risk In Developing Economies

    This paper examines the use cases for Credit Benchmark’s Consensus Probabilities of Default (Consensus PDs), in the context of more Read more

    Impact Of BCBS Proposals On IRB Banks

    The Basel Committee on Banking Supervision recently published wide-reaching proposals for reducing variation in Credit Risk Weighted Assets, with a Read more


    Follow us on:

    Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.