Research >> Economics
New York Purchasing Managers Business Activity jumped to 56.1 in September
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In September, New York City purchasing managers reported significant short term improvements in Current Business Conditions and Current Revenues against a drop in Six Month Outlook, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions gained back the losses reported in August, increasing 13.2 points from 42.9 to 56.1 in September. This is much like the increase reported (and then lost) from May to June. This index reflects the largest change seen in this month's report.The Six Month Outlook fell from 61.7 in August to 48.9 in September. This is the continuation of a now 5 month trend of the outlook alternating between the 40s and the 60s, mimicking the feeling one gets while riding the Cyclone on Coney Island. 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 slightly from 38.8 in August to 40.2 in September, remaining below the breakeven point for 7 of the last 8 months. Quantity of Purchases fell back below the breakeven point reported in August to come in at 46.7 in September. With the exception of the 50.0 reported in August, this month's finding is the highest in just over a year. Top line and forward revenue guidance moved in opposite directions once again. Current Revenues reached the breakeven point of 50.0 for the first time since February (58.3). With the exception of the decrease reported in August, Current Revenues has increased every month since May. Expected Revenues adjusted downward by 0.4 points in September to reach 42.9. Prices Paid decreased after two consecutive months of increases, falling to 65.4 in September from the 7 month high of 67.9 reported in August.
Posted: October 2, 2020 Friday 08:30 AM