Research >> Economics
New York Purchasing Managers Business Activity rose to 19.5 in May
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In May, New York City purchasing managers reported across the board increases as gradual re openings signal the beginning of the end of the coronavirus pandemic shock, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions rose 15.2 points to 19.5 in May, up from the all time low of 4.3 reported in April. The Six Month Outlook rose 21.6 points to 48.0 in May, up from the all time low of 26.4 in April. For reference, the Outlook was at 53.8 in the February Report, the last reading before the shutdown effect hit the economy directly. 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 4.7 points to 33.9, up from 29.2 in April. It would appear that the 26.3 reported in June of 2009 will stand as the lowest finding on record to date. Quantity of Purchases rose 20 points to 28.3 in May, up from 8.3 in April, the lowest finding on record. Top line and forward revenue guidance both rose from the all time lows reported in April. In May, Current Revenues rose 18.3 points to 29.2 and Expected Revenues rose 10.8 points to 34.1. Prices Paid rose 12.7 points to a four month high of 60.9 in May, up from 48.2 in April.
Posted: June 2, 2020 Tuesday 08:30 AM