Company credit managers remained optimistic in June about the economy’s growth, though slightly less than the previous month.
The survey was taken before credit managers learned Great Britain had voted to leave the European Union.
An index generated from surveys of credit managers dipped to 52.7 in June, compared with 53.8 in May. Any reading above 50 showed economic expansion.
Financial markets fell sharply after voters in the United Kingdom voted last week to leave the European Union. The credit managers index probably will show strains in July, said Chris Kuehl, the Kansas City area economist for the National Association of Credit Management, which produced the index.
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“What is known thus far is that the markets lost $3 trillion in just over 48 hours and credit access has tightened accordingly. The first place a crisis is likely to show up will be in the unfavorable factors as companies that have exposure to the U.K. or Europe will possibly see more disputes, need for collection action and bankruptcies,” Kuehl said in the association’s report.
The survey also weighs favorable economic signs such as sales, new credit applications and the amount of credit extended.