Small Business Defaults in Missouri Up in October - PayNet
Chicago, IL, December 18, 2017 (Newswire.com) - PayNet, the premier provider of small business credit assessments on private companies, announces that in October 2017 overall defaults increased among small businesses in Missouri. Of the 18 major industries, 10 increased and 8 dropped in the state compared to the prior month.
After a 3 basis point rise from September, Missouri's PayNet Small Business Default Index (SBDFI) at 1.91% was 7 basis points higher than the national SBDFI level of 1.84%. Year-over-year, Missouri's SBDFI increased 21 basis points, while the national SBDFI rose 2 basis points.
The industries with the highest default rates in Missouri were Transportation and Warehousing (4.14%); Information (2.83%); and Professional, Scientific, and Technical Services (2.57%). Nationally, Transportation and Warehousing had a default rate of 4.38%, with a difference of +0.17% compared to the prior year, while Missouri had a variance of -1.24%.
At 87.0, the PayNet Small Business Lending Index (SBLI) for Missouri rose 0.2% from the previous month's state level, but was 13.0% lower than the national SBLI level of 100.0 this month.
"Time will tell how these conditions will affect Missouri's economy going forward," explains William Phelan, president of PayNet.