Research >> Economics
New York Purchasing Managers Business Activity Contracted
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New York City business activity contracted for the third time in the last four months, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index came in at 47.2 in November from 44.0 in October.
Future optimism surged by the most in over two years, but it’s too soon to consider this an all-clear signal yet. The Six-Month Outlook index jumped to 71.0 in November from 54.9 in October.
Details on purchase volume and jobs turned positive. The Quantity of Purchases index (54.3 November vs. 44.4 October) expanded for the second time in three months, while the Employment index (52.1 November vs. 37.8 October) hit a six-month high.
Price/cost pressures eased. The Prices Paid index fell to a five-month low of 48.9 in November from 54.4 in October.
Business impediments had a positive feel. Skilled labor shortages increased to a seven-month high and working capital shortages dropped to a ten-month low.
Posted: November 30, 2011 Wednesday 08:30 AM