Research >> Economics
New York Purchasing Managers Business Activity eased in August to 47.5
|
New York City business activity eased in August after a seven month high in July, according to the survey taken by the Institute for Supply Management-New York. Short term expectations seem measured, with volume of purchases, revenues, and expected revenues all either contracting or staying flat.
New York Metro
Current Business Conditions returned to 47.5, nearly the same level reported in June, after rising to a 7 month high of 60.7 in July. Despite the reversal in current business conditions, the Six-Month Outlook increased to 65.5 in August, the highest level reported since February. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment rose to 54.9 in August, showing an increased pace of growth for only the second time in 12 months. Quantity of Purchases came in at 44.6 in August, falling slightly from the levels seen in June and July but staying above the 7-year low of 37.5 reported in May.
News for the top line and forward guidance moved into neutral/negative territory. Current Revenues were 50.0 in August, indicating no change from July. Expected Revenues fell to 57.1 in August. Cost pressures reversed the recent downward trend. Prices Paid increased to 60.3 in August.
Posted: September 2, 2016 Friday 08:30 AM