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New York Purchasing Managers Business Activity improved
New York City business activity improved for the first time in four months in September, according to the survey taken by the Institute for Supply Management-New York (ISM-NY).
The Current Business Conditions index rose to 58.3 in September from 55.6 in August. The index remained above the long-run average of about 55.
The Six-Month Outlook index also increased to 64.8 in September from 58.4 in August. The long-run average is about 64. Purchasing and supply executives maintained the volume of spending. The Quantity of Purchases index was little changed at 54.2 in September from 54.3 in August.
Jobs expanded again after pausing last month. The Employment in dex rose to 53.3 in September from 50.0 in August. Input prices increased for the first time in three months and at the fastest pace in two y ears. The Prices Paid index moved up to 53.3 in September from 43.2 in August.
Skilled labor shortages (a positive) and working capital shortages (a negative) were the most prevalent business impediments.
Posted: September 30, 2010 Thursday 08:30 AM