Research >> Economics
New York Purchasing Managers Business Activity dipped in April to 55.8
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New York City purchasing managers demonstrated a small but directional shift in perspective in April, according to the survey taken by the Institute for Supply Management-New York. While all indices moved in a desirable direction in March, April's findings all moved in the opposite direction with the exception of Quantity of Purchases, the only index to cross below the breakeven point this month.
New York Metro
Current Business Conditions came in at 55.8 in April, a small adjustment from the 56.5 reported in March. The Six-Month Outlook decreased to 73.2 in April, moving slightly off of the 3-year high seen in March but staying squarely in growth territory. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, decreased to 45.1 in April, staying below the breakeven point for the third month in a row. Quantity of Purchases fell to 48.4 in April, coming in below the breakeven point for the eighth time in twelve months. News for the top line and forward guidance are where we note the greatest change in April. Current Revenues were 55.0 in April, falling from the 20-month high of 65.0 in March. Expected Revenues fell to 65.0 after reaching 80.0 in March's 19-month high.Prices Paid increased for the first time since November 2016, rising to 54.7 in April. In March, Prices Paid fell below the breakeven point for the first time in seven months.
Posted: May 2, 2017 Tuesday 08:30 AM