Research >> Economics
New York Purchasing Managers Business Activity Increased to 76.5 in August
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In August, New York City purchasing managers reported significant highs in Current Business Conditions and Current and Expected Revenues, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 76.5 in August, a new 12 year high over the 75.0 seen in July, but still
failing to surpass the 77.1 reported in November of 2006. The Six-Month Outlook rose to an 8 month high, coming in at 79.9 in August, up from 77.8 in July. The Outlook has been 76.0 or above for half of the months in 2018. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, was the only index to decrease in August, falling slightly to 62.0 from 62.2 in July. Quantity of Purchases rose for the second month in a row, up 6.7 to 66.7 in August. This is the highest level reported since January of 2015, when Quantity was at 69.0. In August, top line and forward revenue guidance reached new all-time highs (both were added to the report in February 2012). Current Revenues rose 23.3 to 83.3 in August. This is the first time Current Revenues reached 80, and it has only been in the 70s three times: August 2014 (71.4), October 2014 (71.9), and June 2015 (71.4). This is also the largest month over month increase ever recorded for this index. Expected Revenues rose to an all-time high of 87.5, up from 86.7 in July. This month’s Expected Revenues refer to February 2019. Prices Paid rose to 78.6 in August, up from 70.0 in July, reaching the highest level since 80.0 in September 2007.
Posted: September 5, 2018 Wednesday 08:30 AM