Research >> Economics
New York Purchasing Managers Business Activity rose to 45.8 in January
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In January, New York City purchasing managers reported Current Business Conditions that - while improved - still failed to reach the breakeven point, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions rose from the 3.5-year low of 39.1 reported in December to reach 45.8 in January, an improvement of 6.7 points, but not enough to reach the breakeven point of 50.0. The Six-Month Outlook fell to a 3-month low of 57.3 in January, down after three straight months of increases approaching the 64.2 reported in December. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, gave back 4.7 of the 14.3-point gain reported in December (60.8), falling to 56.1 in January. Quantity of Purchases continued to edge downward, reaching a 4-month low of 43.1 in January, down from 44.4 in December.
In January, top line and forward revenue guidance once again moved in opposite directions. Current Revenues fell for the second month in a row, reaching a 4-month low of 41.4 in January, down from 52.8 in December. Expected Revenues rose for the second month in a row, rising 14.3 points to 64.3 in January, up from the breakeven point of 50.0 in December. Expected Revenues was the biggest mover in this month's report. Prices Paid rose after three months of decreases, reaching a 4-month high of 68.1, up from 59.4 last month.
Posted: February 4, 2020 Tuesday 08:30 AM