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New York Purchasing Managers index essentially unchanged
New York City business activity was essentially unchanged in December after falling sharply last month, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index rose to 50.1 in December.
Purchasing managers were less pessimistic about the outlook. The Six-Month Outlook index rose to 40.7 in December from last month¹s record low.
Purchasing volume stayed at a depressed level, and cost pressures fell for a third straight month. The Quantity of Purchases index came in at 22.2, while the Prices Paid index was 44.4.
The Employment index, a measure of current trends by area firms, rose to 27.8 in December, still indicative of sizable job cuts.
Business impediments: The economy continued to be an issue in "other" difficulties, while working capital shortages were an even bigger concern.
Posted: December 31, 2008 Wednesday 10:01 AM