Credit Benchmark have released the September 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.
UK Industrial firms are in a positive position for the third time this month, suggesting a potential trend of improvement is forming. EU Industrial firms have registered another positive CCI for this month, which is the twelfth consecutive instance of a positive score. Last month US Industrial firms ended their streak of 17 consecutive months of positive credit quality. However, this month US Industrial firms return to positive territory once again.
UK Industrials: Net Improvement Momentum Grows
UK Industrial firms are in a positive position for the third time this month, suggesting a potential trend of improvement is forming.
The UK CCI score is 51.4 this month; an improvement from last month’s CCI of 50.4.
UK’s industrial heartlands have been boosted by the next stage of carbon capture, usage and storage (CCUS) clusters process.
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EU Industrials: Modest Improvement
EU Industrial firms have registered another positive CCI for this month, which is the twelfth consecutive instance of a positive score.
Whilst the trend was dipping close to neutral, the EU CCI score is 53.2 this month; a modest improvement from last month’s CCI of 50.4.
Europe is seeing a hiring jump in railway industry industrial automation roles, which could suggest positive growth in that industry.
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US Industrials: Regaining Momentum
Last month US Industrial firms ended their streak of 17 consecutive months of positive credit quality.
However, the US CCI score this month is 53.4, a significant increase from last month’s CCI of 48.1, and returns US Industrial firms to positive territory once again.
Of the 22 manufacturing categories tracked by the United Nations, the US rank first in six categories and second in 13 others, underscoring the breadth and competitiveness of American manufacturing.
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