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New York Purchasing Managers Business Activity down to 49.7 in September
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New York City purchasing managers reported current business conditions, employment, and quantity of purchases are in contraction, while the six-month outlook fell but remained in growth territory, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions came in at 49.7 in September, down from 56.6 in August and falling below the breakeven point for only the second time in 2017. The Six-Month Outlook decreased to 58.4 in September, stepping back slightly from a one-month increase to 60.5 in August and returning to nearly the same level seen 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, decreased to 48.3 in September, falling back into contraction territory after the 18-month high of 56.4 in August. Quantity of Purchases fell to an 8-month low of 48.1, down from 51.6 in August. News for the top line and forward guidance continued to make small adjustments in opposite directions for the second month in a row. Current Revenues continued to increase after hitting the lowest point on record in July, coming in at the breakeven point of 50.0 in September. Expected Revenues fell for the second consecutive month, and reached a 20-month low of 52.0 in September. Prices Paid rose to 52.3 in September after breaking even in August, returning to nearly the same level seen in July.
Posted: October 3, 2017 Tuesday 08:30 AM