Research >> Economics
New York Purchasing Managers Business Activity Improved to 64.3 in April
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In April, New York City purchasing managers reported the highest level of Current Business Conditions since January, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions were at 64.3 in April, up from 54.0 in March, reaching the highest level since January when current business conditions reached an eleven plus year high of 72.5. The Six-Month Outlook fell to 58.4 in April from 65.6 in March. With the exception of the 0.9 increase reported in March, the six-month outlook has declined every month since December 2017. 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 58.3 in April, increasing from 53.5 in March. Employment has increased two months in a row and has been above the breakeven point of 50.0 in half of the last 12 months. Quantity of Purchases decreased to 50.0 in April, down from 54.2 in March. In April, top line and forward revenue guidance moved up together. Current Revenues increased to 55.6, up from 50.0 in March. Expected Revenues rose to 76.3, up from 68.2 in March, reaching the highest level reported since March 2017.
Prices Paid decreased slightly to 65.8, down from 66.7 in March. Despite the decrease, this index has been above 60 for 7 straight months - the third longest time above 60 on record. The other two instances are the 8 months from February to September 2008, and the 10 months from September 1994 to June 1995.
Posted: May 2, 2018 Wednesday 08:30 AM