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New York Purchasing Managers Business Activity fell to 12.9 in March
In March, New York City purchasing managers reported some of the lowest findings on record as the coronavirus pandemic shut down the economy, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions fell 39.0 points to 12.9 in March, the lowest finding on record. The Six Month Outlook fell 15.9 points to 37.9 in March but has not yet reached the lowest level on record. In November 2008, the outlook was at 31.0, and in February of 2009 it was at 33.0. The six month outlook has been a reliable short run guide for current business conditions over time.
Employment, a seasonally adjusted index, fell12.6 points to 36.7 in March, a 42 month low (referencing the finding of 33.9 in September of 2016). Quantity of Purchases fell 9 points to 32.7, a 10+ year low (referencing the finding of 31.8 in July of 2009).Top line and forward revenue guidance both fell to the lowest level reported since they were added to the Report in February of 2012. Current Revenues fell 29.7 points to 28.6. Expected Revenues fell 11.1 to 38.9. Prices Paid, the index that moved the least in this month's report, fell 4.2 points to come in at the breakeven point of 50.0 in March.
Posted: April 2, 2020 Thursday 08:30 AM