Research >> Economics
New York Purchasing Managers Business Activity down slightly to 54.0 in March
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In March, New York City purchasing managers reported small adjustments to the large changes seen in February, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 54.0 in March, down just slightly from 54.5 in February, when they dropped 18 points off of January’s 11 year high of 72.5. This index made the smallest month over month change in the March report. The Six-Month Outlook ended two consecutive months of decline, increasing 0.9 to 65.6 in March, up from 64.7 in February. 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 53.5 in March, moving back above the breakeven point after coming in at 46.7 in February. Quantity of Purchases decreased to 54.2 in March, down from 55.6 in February. In March, top line and forward revenue guidance moved downward together. Current Revenues decreased to 50.0 (the breakeven point) in March, down from 61.8 in February. This was the biggest move, up or down, in this month’s report. Expected Revenues fell after two months of increases, coming in at 68.2 in March, down from 72.2 in February. Prices Paid increased to 66.7, up from 61.1 in February.
Posted: April 3, 2018 Tuesday 08:30 AM