Research >> Economics
New York Purchasing Managers Business Activity Dropped to 56.4 in May
|
In May, New York City purchasing managers reported the lowest level of Current Revenues on record, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 56.4 in May, down from 64.3 in April. The Six-Month Outlook rose to a four-month high of 66.9 in May, up from 58.4 in April. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, stayed just above the breakeven point by coming in at 50.2 in May, down from 58.3 in April. Employment has moved below the breakeven point just once in 2018: when it fell to 46.7 in February. Quantity of Purchases remained at 50.0 for the second consecutive month. Quantity of purchases has been a relatively stable index, staying between 44.3 and 58.0 for 24 consecutive months. In May, top line and forward revenue guidance both moved downward. Current Revenues fell 11.8 to 43.8, the lowest level since the index was added to the survey in February of 2012. Current revenues has only fallen below the breakeven point 10 times. Expected Revenues fell from April’s 12-month high of 76.3, coming in at 71.7 in May. Prices Paid rose to 72.9 in May, reaching a seven year high.
Posted: June 4, 2018 Monday 08:30 AM