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New York Purchasing Managers Business Activity dropped to 54.5 in February
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In February, New York City purchasing managers reported an 18 point drop in Current Business Conditions month over month according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 54.5 in February, down significantly from the 11 year high of 72.5 in January. This index saw the largest move of any in the report this month. The Six-Month Outlook fell for the second month in a row, down to 64.7 in February from 76.1 in January. 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 46.7 in February, down from 58.4 in January. Employment has now been below the breakeven point of 50.0 in eight of the last twelve months, and was the only index below breakeven in February. Quantity of Purchases increased to 55.6 in February from 50.0 in January. In February, top line and forward revenue guidance moved together, but in the opposite direction from Current Business Conditions and the Six-Month Outlook. Current Revenues increased to 61.8 in February from 47.4 in January, and was the only index in this month’s report to come in lower than February of 2017. Expected Revenues rose for the second month in a row, up to 72.2 in February from 68.4 in January. Prices Paid increased slightly to 61.1 in February, up from 60.5 in January.
Posted: March 2, 2018 Friday 08:30 AM