Research >> Economics
New York Purchasing Managers Business Activity rose to 77.3 in April
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In April, New York City purchasing managers indicated significantly higher six-month outlook and expected revenues, according to the survey taken by the Institute for Supply Management-New York
New York Metro
Current Business Conditions rose from 66.9 in March to 77.3 in April to reach the highest level seen in over 12 years (referencing the 80.5 reported in July 2006). The Six-Month Outlook rose from the 10-year low of 53.0 in March to a 7-month high of 77.8 in April. The increase of 24.8 points in one month is only exceeded in the April Report by the increase in Expected Revenues. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, rose to a 5-month high of 66.0 in April, up from 59.5 in March. Quantity of Purchases increased to 63.6 in April, up from 61.1 in March. In April, top line and forward revenue guidance both increased - just slightly in the short term but far more significantly in the longer term. Current Revenues nudged upward to 63.6 in April from 62.5 in March. Expected Revenues rose 32.5 points from 62.5 in March to 95.0 in April. This is the highest finding for Expected Revenues since the indicator was added to the Report in February 2012 by 7.5 points (referencing the 87.5 reported in August of 2018). Prices Paid decreased from 66.7 in March to 63.6 in April.
Posted: May 2, 2019 Thursday 08:30 AM