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

Credit Benchmark have released the March 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 an 18th month of improvement. UK Industrial firms continue to register a negative CCI this month. US Industrial firms return to positive credit balance.

UK Industrials: Trend of Net Deterioration Forms

UK Industrial firms continue to register a negative CCI this month, which is the fourth consecutive instance of a negative score.

The UK Industrials CCI score is 49.5 this month, a slight deterioration from last month’s CCI of 49.6.

Reuters poll suggests Fridays UK GDP numbers will show growth for January. UK’s construction sector rebounded back into growth in February as fears of a recession fade.


EU Industrials: Modest Improvement Continues

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

The EU Industrials CCI score is 51.1 this month, its lowest score since Jun-22.

The S&P Global Eurozone Manufacturing PMI down in February. The EC proposed packaging regulations that would require companies to make their Containers & Packaging easier to reuse, recycle or in some cases, compost.


US Industrials: A Turn for the Worse

US Industrial firms return to positive credit balance this month after ended their run of five months of positive credit balance last month.

The US Industrials CCI score this month is 50.7, an increase from last month’s CCI of 48.4.

US February jobs report, due this week, is expected to show continued but slowing growth. A shortage of construction workers is putting at risk the plan to fuel a building boom in the US.


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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.