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New York Purchasing Managers Business Activity fell to 37.2 in December
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In December, New York City purchasing managers reported the lowest Current Business Conditions since 2016 while indicating a significant intent to hire in January, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions fell after two months of moderate gains, reaching a 3.5 year low of 39.1 in December (referencing 37.2 in May 2016). The Six-Month Outlook nudged upward to 64.2 in December, rising for the third consecutive month. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, recovered from the drop below the breakeven point reported in November, rising by 14.3 points to a 4-month high of 60.8 in December. Employment was also the biggest mover in the report for the second month in a row. Quantity of Purchases fell to a 3-month low of 44.4 in December, down from the 3-month high of 48.0 reported in November.
In December, top line and forward revenue guidance once again moved in opposite directions. Current Revenues fell to a 3-month low of 52.8, down from 56.3 in November. Expected Revenues rose to 50.0, the breakeven point, in December, up from the drop to 45.7 in November. Prices Paid fell for the third month in a row, reaching 59.4 in December, down from 62.0 in November.
Posted: January 6, 2020 Monday 08:30 AM