Research >> Economics
New York Purchasing Managers Business Activity Expanded to 51.1
New York City business activity expanded for the first time in three months, according to the survey taken by the Institute for Supply Management-New York (ISMNY). The Current Business Conditions index rose to 51.1 in December from 47.2 in November.
Future optimism pulled back from November’s six month high. The Six-Month Outlook index slipped to 63.7 in December from 71.0 in November.
Purchase volume and jobs turned negative. The Quantity of Purchases index (48.3 December vs. 54.3 November) has been uneven for four months. The Employment index (46.6 December vs. 52.1 November) contracted for the sixth month in seven.
Price/cost pressures picked up. The Prices Paid index rose to 55.4 in December from November’s five-month low of 48.9.
Business impediments diminished in December. The biggest decline was in skilled labor shortages followed by “other” difficulties and security concerns.
Posted: December 30, 2011 Friday 08:30 AM