Small Business Borrowing in New Mexico Up in July
Chicago, IL, September 20, 2017 (Newswire.com) - In July 2017, borrowing increased in New Mexico, with 15 of the 18 major industries increasing in New Mexico, according to data announced by PayNet.
Registering at 84, the PayNet Small Business Lending Index (SBLI) for New Mexico rose 3.6% from last month's state level, but was 15.1% beneath this month's national SBLI level (98.9).
Public Administration (+78.2%); Information (+50.9%); and Construction (+36.6%) were the three industries with the most favorable lending performance over the past year in New Mexico. At 202.3, this SBLI value marks a new all-time high for the Public Administration industry in the state.
PayNet’s Small Business Default Index (SBDFI) for New Mexico stood at 2.34%. After a similar value to last month, New Mexico's SBDFI was 47 basis points greater than the national SBDFI level of 1.87%. Over the last year, New Mexico's SBDFI climbed 26 basis points, which was a significantly sharper rise than the 15 basis point increase exhibited by the national SBDFI.
"More definitive trends are needed to gauge the future economic performance for New Mexico," states the president of PayNet, William Phelan.
Source: www.paynet.com
