Research >> Economics
New York Purchasing Managers Business Activity fell to 4.3 in April
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In April, New York City purchasing managers continued to report the impact of the coronavirus pandemic on current and expected future business conditions, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions fell 8.6 points to 4.3 in April, down from the previous month's record low of 12.9. The Six Month Outlook fell 11.5 points to 26.4 in April, down from 37.9 in March, officially becoming the lowest finding on record for this index. The six month outlook has been a reliable short run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, fell from 36.7 in March to 29.2 in April. While this is a 10+ year low (referencing the 26.3 reported in June of 2009), it is not the lowest finding on record. Quantity of Purchases fell 24.4 points to 8.3 from the 10+ year low of 32.7 reported in March, reaching the lowest point on record. Top line and forward revenue guidance both fell to new lows since they were added to the Report in February of 2012. Current Revenues fell 17.7 points to 10.9. Expected Revenues fell 15.6 points to 23.3. Prices Paid was the index that moved the least for the second month in a row, edging down 1.8 from the breakeven point of 50.0 in March to 48.2 in April.
Posted: May 4, 2020 Monday 08:30 AM