June Credit Consensus Indicators (CCIs) – US, UK & EU Industrials

Credit Benchmark have released the June Credit Consensus Indicators (CCIs). The CCI is an index of forward-looking credit opinions for US, UK & 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.

US Industrials return to net improvement. UK Industrials haven’t shown a positive credit outlook for seven consecutive months. EU Industrials net improvement trend slows.

US Industrials: Net Improvement Returns

US Industrial firms return to net improvement, after two months of negative credit outlook.

US Industrials CCI score this month is 50.5, an improvement from last month’s CCI of 48.6.

Latest US Industrial production increases 0.2% YoY; US Manufacturing PMI is 48.4, input costs fall for the first time since May 2020.

UK Industrials: Net Deterioration Worsens

UK Industrial firms haven’t shown a positive credit outlook for seven consecutive months.

UK Industrials CCI score this month is 48.5, a decrease from last month’s CCI of 49.9.

Latest UK Industrial production drops 2% YoY; UK Manufacturing PMI is 46.9, average input prices fall for the first time in three-and-a-half years.

EU Industrials: Net Improvement Trend Slows

EU Industrial firms maintain a positive credit outlook for twenty-one consecutive months. However, the trend is slowing.

EU Industrials CCI score this month is 50.2, the same as last month.

Latest Euro Area Industrial production drops by 1.4% YoY; Eurozone Manufacturing PMI is 44.8, signalling a further decline in the health of the bloc’s manufacturing sector.

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    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.