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New York Purchasing Managers Business Activity decreased to 56.3 in December
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New York City purchasing managers reported the highest 6-month outlook in over a decade according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 56.3 in December, down from 58.1 in November. In 2017, current business conditions ranged from a low of 46.7 in May to a high of 62.8 in July. With the December report, the year ends above the 12-month average of 54.9. The Six-Month Outlook made a huge move to 85.7 in December, up from 69.7 in November. This is the highest result we have seen in this index since July of 2006 (89.7), 11 years and 5 months ago. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, was 42.9 in December, ending three consecutive months of increases, but remaining higher than December 2016 (42.0). Quantity of Purchases dropped slightly to 55.0, ending two consecutive months of increases. In December, the top line and forward revenue guidance pulled back from the significant one-month increase seen in November. Current Revenues came in at 55.0 in December after reaching an eight-month high of 64.3 in November. Expected Revenues were at 63.6 in December, down from November’s 15 month high of 71.4. Prices Paid increased for the fourth month in a row, coming in at 66.7 in December, up from 62.5 in November.
Posted: January 3, 2018 Wednesday 09:55 AM