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New York Purchasing Managers Business Activity surged
New York City business activity expanded at the fastest pace in eight months, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index rose to 71.2 in January from a revised 63.8 in December.
Future optimism surged to a 12-month high and stood at the third highest level in the survey’s history, indicating very widespread gains. The Six-Month Outlook index increased to 90.7 in January from a revised 75.1 in December.
Purchasing and supply executives raised their volume of spending, and jobs were added at a faster rate. The Quantity of Purchases index came in at 52.1 in Jan uary from 50.0 in December. The Employment index rose to 54.3 in January from 52.9 in December.
Higher input prices were observed after a decline last month. The Prices Paid index increased to 52.2 in January from 48.5 in December.
Business impediments were more favorable yet again. Skilled labor shortages were twice the response rates of working capital shortages and weather.
Posted: February 28, 2011 Monday 08:30 AM