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New York Purchasing Managers Business Activity fell to 61.1 in February
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In February, New York City purchasing managers indicated improved outlook and short term costs, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions fell for the 6th consecutive month, coming in at 61.1 in February, down from 63.4 in January. Conditions also reached an 8-month low, looking back to 55.0 in June of 2018. The Six-Month Outlook increased for the second month in a row, rising 13.2 points to reach 71.5 in February. The six month outlook has been a reliable short-run guide for current business conditions over time.
.Company Specific
Employment, a seasonally adjusted index, rose from an 8-month low of 53.1 in January to 60.7 in February, bringing a three month trend of decreases to an end. 24% of this month's respondents indicated that they were likely to increase their employees this month. Quantity of Purchases increased significantly in February, rising from a 27-month low 44.7 in January to a 4-month high of 65.4 in February. This marks the largest 1-month increase since the index rose by 21.4 in June of 2007. In February, top line and forward revenue guidance moved in opposite directions. Current Revenues increased by 16.9 points to reach a 5-month high of 76.9 in February. Expected Revenues fell from 71.4 in January to 65.4 in February. Prices Paid fell from 72.5 in January to 60.7 in February.
Posted: March 4, 2019 Monday 08:30 AM