Credit Benchmark have released the May 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 continue to show a negative credit balance. UK Industrials return to net deterioration. EU Industrials maintain a positive credit balance for twenty consecutive months.
US Industrials: Net Deterioration Continues
US Industrial firms continue to show a negative credit balance.
US Industrials CCI score this month is 48.5, a slight improvement from last month’s CCI of 48.0.
Latest US Industrial production increases 0.5% YoY, the least in two years; US Manufacturing PMI is 50.2.
Funding for 27 small shipyards in 20 US states is announced to help increase productivity and create jobs.
UK Industrials: Net Deterioration Returns
UK Industrial firms return to net deterioration, after ended their trend of net deterioration last month.
UK Industrials CCI score this month is 49.9, a slight decrease from last month’s neutral CCI.
Latest UK Industrial production fell 3.1% YoY; UK Manufacturing PMI downturn continues for nine consecutive months.
Network Rail has insufficient funds to maintain the UK’s railway infrastructure.
EU Industrials: Net Improvement Trend Slows
EU Industrial firms maintain a positive credit balance for twenty consecutive months. However, the trend is slowing.
EU Industrials CCI score this month is 50.4, a decrease from last month’s CCI of 51.1.
Latest Euro Area Industrial production rose by 2.0% YoY; Eurozone Manufacturing PMI is 45.8, worst performance since May-20.
EU pledges €500 Million to boost ammunition output in Europe.
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