Research >> Economics
New York Purchasing Managers Business Activity fell to 43.5 in July
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In July, New York City purchasing managers changed direction on every index except Expected Revenues - much like the dynamic observed in May, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions reached the lowest level reported in over three years (referencing 37.2 in May of 2016). Business conditions fell to 43.5 in July, down from the breakeven point of 50.0 in June. The Six-Month Outlook recovered from the 10-year low of 51.0 reported in June to reach a 3-month high of 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, fell from 60.9 in June to 57.1 in July. Quantity of Purchases increased significantly in July, recovering over half of the 22.4 point drop to a 10-year low of 34.2 in June to reach 46.6 in July. Despite being the largest mover in this month's report, the increase was not enough to reach the breakeven point of 50.0. In July, top line and forward revenue guidance moved in opposite directions. Current Revenues recovered from June's 13-month low of 43.9 to reach 53.2 in July. Expected Revenues fell for the third month in a row, reaching 66.1 in July, down from 72.6 in June. Prices Paid rose to a 2-month high of 68.3 in July, up from 57.3 in June.
Posted: August 2, 2019 Friday 08:30 AM