Research >> Economics
New York Purchasing Managers Business Activity rose to 50.3 in August
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In August, New York City purchasing managers expressed optimism across a number of indices, most notably in employment and those that are forward looking, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions recovered from the 3+ year low of 43.5 reported in July to reach a 4 month high of 50.3 in August. Despite the drop seen last month, August's finding is nearly the same as the 50.0 reported in June. The Six-Month Outlook continued the upward movement started last month to reach a 4 month high of 71.4 in August, up from 63.2 in July. 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 from 57.1 in July to 69.0 in August, reaching a 9 month high. Quantity of Purchases increased for the second month in a row, reaching the breakeven point of 50.0 in August after increasing 12.4 points to 46.6 in July. Despite the fact that Quantity is at the breakeven point this month, the finding is also a 3 month high.
In August, top line and forward revenue guidance moved in opposite directions, but both stayed at or above the breakeven point. Current Revenues fell from 53.2 in July to 50.0 in August. Expected Revenues was the biggest mover of the month, increasing 16.2 points from 66.1 in July to a 4 month high of 82.3 in August. Prices Paid eased from 68.3 in July to 66.1 in August.
Posted: September 4, 2019 Wednesday 08:30 AM