Research >> Economics
New York Purchasing Managers Business Activity rose to 51.9 in February
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In February, New York City purchasing managers reported improved Current Business Conditions, Current Revenues, and prices paid, according to the survey taken by the Institute for Supply Management New York.
New York Metro
Current Business Conditions rose for the second month in a row, reaching a 10 month high of 51.9 in February, up from 45.8 in January. The Six-Month Outlook fell for the second consecutive month, reaching 53.8 in February, down from the 3 month low of 57.3 reported in January. The six month outlook has been a reliable short run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, fell for the second month in a row, coming in below the breakeven point at 49.3, down 6.8 points from the 56.1 reported in January. Quantity of Purchases continued to edge downward, reaching a 5 month low of 41.7 in February, down from 43.1 in January. Top line and forward revenue guidance moved in opposite directions for the fourth consecutive month. Current Revenues was the biggest mover in February, rising 16.9 points to reach a 9 month high of 58.3, up from a 4 month low of 41.4 in January. Expected Revenues fell to 50.0, the same level reported in December, after a 1 month increase to 64.3 in January. Prices Paid fell to a 29 month low of 54.2 in February (referencing 52.3 in September of 2017). This index fell 13.9 points from January's 4 month high finding of 68.1
Posted: March 3, 2020 Tuesday 08:30 AM