Research >> Economics
New York Purchasing Managers business activity expanded
|
New York City business activity in August expanded for the first time in three months, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index rose to 55.3 in August from 48.3 in July.
Future optimism brightened further. The Six-Month Outlook index stayed above 50 for the sixth straight month, rising to 65.5 in August from 59.3 in July. In a sign the downturn is ending, purchasing volume expanded for the first time in 20 months. The Quantity of Purchases index jumped to 54.0 in August from 31.8 in July.
The pace of job cuts continues to abate. The Employment index rose to an 14-month high of 40.0 in August from 37.5 in July. Cost pressures are not falling as quickly. The Prices Paid index came in at 38.0 in August from 25.0 in July.
Business Impediments: Working capital shortages remained elevated. However, the percentage of respondents reporting no difficulties was the highest in ten months, a reflection of an improving business climate.
Posted: August 31, 2009 Monday 10:00 AM