Research >> Economics
New York Purchasing Managers Business Activity rose to 50.4 in November
In November, New York City purchasing managers expressed the same cautious optimism reported in October, 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 7-month high of 50.4 in November after falling short of the breakeven point by coming in at 47.7 in October. The Six-Month Outlook also rose for the second consecutive month, reaching a 3-month high of 62.8 in November, up from 53.6 in October. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Employment, a seasonally adjusted index, fell below the breakeven point after October's recovery to 58.3, dropping to 46.5 in November, one month shy of a 2-year low. Employment was the biggest mover in this month's report. Quantity of Purchases rose to 48.0 in November, up from 45.0 in October. In November, top line and forward revenue guidance moved in opposite directions. Current Revenues rose to a 6-month high of 56.3, up from 53.6 last month. Expected Revenues fell 11.4 points to 45.7 in November, down from 57.1 in October. This month marks only the second time expected revenues has fallen below the breakeven point since being added to the report in February 2012, with the first time being September 2019. Prices Paid fell for the second month in a row, reaching a 5-month low of 62.0 in November, down from 65.5 in October.
Posted: December 3, 2019 Tuesday 08:30 AM