Research >> Economics
New York Purchasing Managers business activity expands again
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The year began with a 12-month losing streak for New York City business activity, but it ends with a five-month winning streak, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index came in at 59.7 in December, expanding for a fifth consecutive month, albeit at a slower rate than November's 62.9 level.
Future optimism has become very widespread a good kind of contagion. The Six-Month Outlook index broke the lofty 80 barrier for the first time since 2006, reaching 80.2 in December compared to 74.4 in November.
The news on jobs improved further, while purchasing volumes took pause. The Employment index rose to 56.9 in December from 54.8 in November. The Quantity of Purchases index eased to 50.0 in December from November's two-year high of 55.9.
Cost pressures remained contained. The Prices Paid index was 34.7 in December versus 34.6 in November.
Business Impediments: In a sign of healing, "No difficulties" was the most popular r esponse in December. That has not happened since October 2008. Working capital shortages have become less and less of a concern, declining for a fourth straight month.
Posted: December 31, 2009 Thursday 10:00 AM