Research >> Economics
New York Purchasing Managers Business Activity jumped to 72.5 in January
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In January, New York City purchasing managers reported the highest current business conditions in over a decade according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 72.5 in January, up from 56.3 in December. This marks the highest level reported since November of 2006 when current business conditions were at 77.1. In November 2006, the Six-Month Outlook was also in growth territory at 73.0, but was lower than we see this month. The Six-Month Outlook fell from the 11 plus year high of 85.7 seen in December to 76.1 in January. If not for the spike reported in December, January’s outlook would represent a 4 year high. 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 58.4 in January, back up from the 42.9 reported in December. This is the second highest level this index has reached in 2.5 years, failing to top the high point of 64.6 in November of 2017. Quantity of Purchases dropped to 50.0 from 55.0 in December, down for the second month in a row. In January, top line and forward revenue guidance moved in different directions, with current revenues making the greater move. Current Revenues fell to 47.4, down 7.6 from 55.0 in December. Expected Revenues rose to 68.4 in January, up 4.8 from 63.6 in December. Prices Paid fell after four months of increases, coming in at 60.5 in January, down from 66.7 in December.
Posted: February 2, 2018 Friday 08:30 AM