Economy grows but can’t sustain its pace

It’s two steps forward, one step back for the economy once again, according to a survey of companies’ credit managers.

June’s survey results showed the economy’s pace fell back from a recent rally, a report from the National Association of Credit Management said. An index generated from the survey dipped to 53.4 in June from 54.1 in May.

The dip mirrors the slide from February to March, economist Chris Kuehl said in a press release from the association..

“Every month, analysts await new set of data releases poised to make some declarative statement regarding where the economy is heading — every month, the clear path proves to be elusive once again,” Kuehl said in the report.

An index above 50 shows the economy continues to expand. The credit managers index has remained above 50 but had climbed to 57 last October. Its failure to sustain that advance leaves the outlook clouded.

“There always seems to be something both optimists and pessimists can latch on to,” Kuehl said in the report.

This story was originally published June 30, 2015 at 11:30 AM with the headline "Economy grows but can’t sustain its pace."