Research >> Economics
New York Purchasing Managers business activity rose
Less Bad Now, Future Looks Brighter. New York City business activity declined for a 14th straight month although not at the same rapid pace as the last two months, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index rose to 43.1 in March, coming off February’s seven-year low.
A glimmer of optimism has returned. The Six-Month Outlook index increased a record 33 points to 64.8 in March, the highest level since May 2008.
Purchasing volume and employment had a "less bad" feel, despite continuing to exhibit contraction. The Quantity of Purchases index reached a six-month high of 30.0, while the Employment index was at a three month high of 25.0
Cost pressures hit a record low since the inception of the Report on Business in 1993. The Prices Paid index fell to 30.0.
Business Impediments: The persistently high percentage mentioning working capital shortages is consistent with financial markets remaining dysfunctional.
Posted: March 31, 2009 Tuesday 10:00 AM