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New York Purchasing Managers Business Activity dropped to 56.6 in August
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New York City purchasing managers reported decreased current business conditions while indicating a significant increase in employment and moderate improvement to the six-month outlook, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions came in at 56.6 in August, down from 62.8 in July, a seven-month high. The Six-Month Outlook increased to 60.5 in August, ending what had been four consecutive months of decreases. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, increased to 56.4 in August, significantly increasing from the ten-month low of 37.8 we saw in July. Quantity of Purchases decreased slightly to 51.6 in August. News for the top line and forward guidance took different directions without making major changes in August. Current Revenues increased to 48.4 in August, up from 44.4 in July, the lowest point on record. Since this index was tracked in February of 2012, Current Revenues has never been below 50.0 for more than a month at a time until June-July-August 2017. Expected Revenues fell by 0.6 to 68.8 in August. Prices Paid came in at the breakeven point in August, falling to 50.0 from 52.8 in July.
Posted: September 5, 2017 Tuesday 08:30 AM