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New York Purchasing Managers Business Activity Jumped to 75.0 in July
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In July, New York City purchasing managers reported the highest current business conditions in 12 years, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 75.0 in July, up 20 points from 55.0 in June. The last time current business conditions were higher was in November of 2006 when they were at 77.1. Current business conditions have been in the seventies 8 times between (and including) November 2006 and this month. The Six-Month Outlook fell slightly to 77.8 in July, down from 78.1 in June. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, fell 1.2 points to 62.2 in July from 63.4 in June. Quantity of Purchases rose to 60.0 in July. Until this month, quantity of purchases has been between 44.3 and 58.0 for over two years.
This month, the index also reached a 3-year high, looking back to June of 2015 when they were at 62.5. In July, top line and forward revenue guidance both increased. Current Revenues rose to a 5-month high of 60.0, up from 50.0 in June. Expected Revenues rose to an all-time high of 86.7. This index has been tracked in the monthly survey since February of 2012. Expected revenues have been in the eighties only 4 times before this month: April 2015 (81.3), May 2015 (80.6), August 2015 (81.6), and March 2017 (80.0). Prices Paid rose to 70.0, up from 55.9 in June, positioning last month as a 1-month drop.
Posted: August 1, 2018 Wednesday 08:30 AM