Research >> Economics
New York Purchasing Managers Business Activity slowed
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New York City business activity expanded at the slowest pace in three months, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index cooled to a still elevated level of 66.4 in March, down from February’s nine-month high of 77.5. Historically, readings above the 70 mark have not been sustained for more than two months at a time.
Future optimism eased for a second straight month. The Six-Month Outlook index came in at 71.4 in March from 77.8 in February.
Purchase volume and job growth advanced at a slower pace. The Quantity of Purchases index decreased to 61.8 in March from February’s ten-month high of 64.8. The Employment index dipped to 62.0 in March from February’s eight-month high of 62.5.
Higher input prices were a little less widespread. The Prices Paid index pulled back to 63.0 in March from February’s two-and-a-half year high of 68.2.
Business impediments. Labor shortages – skilled and unskilled – picked up. So did supply disruptions, some anecdotally related to the Japan disaster. Raw material shortages were at a seven-month high, and weather/natural disasters were at a twelve-month high.
Posted: March 31, 2011 Thursday 08:30 AM