New York City business activity cooled further in August, according to the survey taken by the Institute for Supply Management-New York (ISM-NY).

The Current Business Conditions index fell to a 12-month low of 55.6 in August from a revised 59.4 in July. This is slightly above the long-run average of about 55.

Future optimism moved into below-trend territory. The Six-Month Outlook index dropped to a 14-month low of 58.4 in August from a revised 69.6 in July. The long-run average is about 64. Purchasing and supply executives continued to scale back the volume of spending. The Quantity of Purchases index declined to a seven-month low of 54.3 in August from a revised 59.4 in July.

Job growth shifted into neutral. The Employment index hit a ten-month low of 50.0 in August from a revised 51.5 in July. Input prices reached a six-month low. The Prices Paid index fell to 43.2 in August from a revised 48.5 in July.

Two business impediments were notable. Skilled labor shortages were a positive sign as firms try to match the right talent with job openings. “Other” difficulties, however, were negative, combining various concerns.

New York City business activity fell in June from record territory in May , according to the survey taken by the Institute for Supply Management-New York (ISM-NY).

The Current Business Conditions index decreased to 69.3 in June from 89.9 in May. The 20.6-point drop is normal and to be expected because the May level of expansion was not sustainable. The two other times the Current Business Conditions index exceeded the 80 mark, it fell about 20 points on average in the next month.

Future optimism was not as broad based as in prior months. The Six-Month Outlook index declined to an eight-month low of 69.6 in June from 84.2 in May. Purchasing and supply executives scaled back the volume of spending for a second straight month. The Quantity of Purchases index came in at 58.9 in June from 62.0 in May.

Job growth continued to accelerate. The Employment index rose to 64.3 in June from 63.3 in May, the highest level since at least November 2007. Input prices rose for the second time in the last three months, after 18 straight months of contraction. The Prices Paid index rose to 51.8 in June from 44.4 in May.

No major concerns from business impediments. The largest percentage response was "No difficulties," with "Working capital shortage" a distant second.

New York City business activity expanded at a record pace in May according to the survey taken by the Institute for Supply Man agement-New York (ISM-NY).

The Current Business Conditions index catapulted to 89.9 in May from 62.2 in April. The May level was the highest since the inception of the survey in 1993. The 27.6-point gain was the fifth largest on record. And the record high print was four months removed from the January record high in the Six-Month Outlook index.

Future optimism picked up and continued to be widespread. The Six-Month Outlook index rose to 84.2 in May from 75.9 in April. Purchasing and supply executives scaled back the volume of spending to a still rapid clip. The Quantity of Purchases index fell to 62.0 in May from 72.1 in April.

Job growth is accelerating. The Employment index rose to 63.3 in May from 61.8 in April, marking the highest level since at least November 2007. Input prices contracted after rising briefly last month. The Prices Paid index eased to 44.4 in May from 52.9 in April.

Business impediments have a more positive tone. Skilled labor shortages were the highest in a year and outnumbered working capital shortages for the first time in two years. This is a by-product of the jobs recovery. New York City payroll employment rose for four straight months through April after bottoming in December.

New York City business activity maintained a rapid rate of expansion in April according to the survey taken by the Institute for Supply Management-New York (ISM-NY).

The Current Business Conditions index rose to 62.2 in April from 60.6 in March, marking the eighth straight month above the 60 level. There is only one other stretch in the history of the ISM-NY Report on Business when the Current Business Conditions index expanded this strong for this long ­ April 1999 to March 2000.

Future optimism remained bright, just not as blinding as in recent months. The Six-Month Outlook index fell to 75.9 in April from 88.2 in March. Purchasing and supply executives cranked up the volume of spending to a level not seen since November 2006. The Quantity of Purchases index vaulted to 72.1 in April from 61.3 in March.

Firms are hiring at the quickest pace since at least November 2007. The Employment index advanced to 61.8 in April from 55.1 in March. Input prices rose for the first time since the financial crisis intensified in September 2008. The Prices Paid index increased to 52.9 in April from 42.3 in March.

Working capital shortages were again the biggest business impediment. Weather is no longer an issue as in the prior two months.

New York City business activity eased, but still maintained a rapid pace in March, according to the survey taken by the Institute for Supply Management- New York (ISM-NY). The Current Business Conditions index came in at 60.6 in March from a revised 78.1 in February. Readings above 70 usually are not sustained for long.

Future optimism eclipsed the 80 mark for a record fourth straight month. The Six-Month Outlook index rose to 88.2 in March from a revised 80.1 in February. Purchasing and supply executives continue to buy more. The Quantity of Purchases index expanded in four of the last five months (61.3 in March from a revised 61.7 in February).

Firms are adding to headcount. The Employment index expanded for the fifth consecutive month (55.1 in March from a revised 53.3 in February). The recent improvement in the ISM-NY Employment index began in November, coinciding with the 10.5% November/December peak in the New York City unemployment rate. Since then, the NYC unemployment rate has fallen to 10.2% in February.

Weather again was cited more frequently as a business impediment in March, even more so than working capital shortages, which declined for a seventh month in a row.

New York City business activity is strengthening and broadening, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index rose to 77.0 in February, the best level in more than three years, from 72.6 in January.

Future optimism decreased from white hot to red hot. The Six-Month Outlook index came in at 81.1 in February following the January surge to 97.0.

Gains in jobs and purchasing volumes are being sustained. The Employment index expanded for the fourth consecutive month, coming in at 53.4 in February from 54.2 in January. The Quantity of Purchases index expanded in three of the last four months, advancing to 60.3, the highest level since June 2007, after 53.1 in January.

Downward pressure on input costs is abating. The Prices Paid index rose to 46.6 in February, a 15-month high, from 38.5 in January.

Weather was cited much more frequently as a business impediment in February, even more so than working capital shortages, which declined for a sixth straight month as financial conditions continued to improve.

Business activity started off 2010 strongly, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index jumped to 72.6 in January, the highest level since November 2006, from a revised 64.5 in December.

Seasonally-adjusted series have been recalculated using updated seasonal factors. This affects Current Business Conditions, the Six-Month Outlook and the NY-BCI from January 2005 to December 2009. Please contact the ISM-NY Business Survey Chair for the new historical data.

In a moonshot of future optimism, an extraordinary zero participants in the survey responded negatively about the outlook. The Six-Month Outlook index surged to 97.0 in January from a revised 81.4 in December.

Recovery in jobs and purchasing volumes continued. The Employment index came in at 54.2 in January from a revised 56.8 in December. The Quantity of Purchases index rose to 53.1 in January from 50.0 in December. Cost pressures stayed subdued. The Prices Paid index was 38.5 in January from a revised 35.1 in December.

Business Impediments: Like last month, "No difficulties" was the most popular response. Working capital shortages declined for a fifth straight month.

The year began with a 12-month losing streak for New York City business activity, but it ends with a five-month winning streak, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index came in at 59.7 in December, expanding for a fifth consecutive month, albeit at a slower rate than November's 62.9 level.

Future optimism has become very widespread ­ a good kind of contagion. The Six-Month Outlook index broke the lofty 80 barrier for the first time since 2006, reaching 80.2 in December compared to 74.4 in November.

The news on jobs improved further, while purchasing volumes took pause. The Employment index rose to 56.9 in December from 54.8 in November. The Quantity of Purchases index eased to 50.0 in December from November's two-year high of 55.9.

Cost pressures remained contained. The Prices Paid index was 34.7 in December versus 34.6 in November.

Business Impediments: In a sign of healing, "No difficulties" was the most popular r esponse in December. That has not happened since October 2008. Working capital shortages have become less and less of a concern, declining for a fourth straight month.

The New York City recovery appears to be transitioning to a new phase ­and for the better. Sustained gains in business activity and future optimism have led to higher purchasing volumes and higher staffing, according to the survey taken by the Institute for Supply Management- New York (ISM-NY).

The Current Business Conditions index expanded for a fourth consecutive month, improving to 62.9 in November from 60.8 in October. It has been three years since purchasing and supply management executives were this optimistic about the future. The Six-Month Outlook index rose to 74.4 in November from 68.9 in October.

Both purchasing volumes and employment advanced into expansion territory. The Quantity of Purchases index rose to a two-year high of 55.9 in November from 46.7 in October. The Employment index vaulted to 54.8 in November from 45.7 in October.

Cost pressures remained contained. The Prices Paid index fell to 34.6 in November from 39.4 in October. Business Impediments: Working capital shortages have become less and less of a concern, declining for a third straight month.

Recovery in New York City business activity is emerging, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). October marked the third consecutive month in expansion territory (above 50), the best stretch in nearly two years. The Current Business Conditions index was 60.8 in October from 72.9 in September.

Sustained gains in future optimism mean the recovery has legs. The Six-Month Outlook index came in at 68.9 in October from 69.5 in September and has expanded for eight months in a row.

Both purchasing volumes and employment continue to show smaller rates of decline, compared to earlier in the year. The Quantity of Purchases index edged up to 46.7 in October from 46.1 in September. The Employment index was 45.7 in October, close to September¹s 21- month high of 47.3.

Price declines for inputs persisted for the thirteenth straight month. The Prices Paid index was 39.4 in October, compared to 41.9 in September.

Business Impediments: Working capital shortages remain the most prevalent concern, but there appears to be tentative improvement in the last two months ­ back-toback declines for the first time since the financial crisis intensified last year.

New York City business activity surged in September to the highest level since November 2006, according to the survey taken by the Institute for Supply Management-New York (ISM-NY, formerly NAPM-NY). The Current Business Conditions index rose to 72.9 in September from a revised 55.7 in August. These were the first back-toback months above the breakeven 50 mark since the US recession began in December 2007.

Future optimism continued to build on recent gains, reaching the highest level since January 2007. The Six-Month Outlook index increased to 69.5 in September from a revised 65.1 in August. Weakness in purchasing volume was not as widespread as in past months. The Quantity of Purchases index came in at 46.1 in September from a revised 50.0 in August.

Firms cut headcount at a much reduced pace relative to earlier in the year. The Employment index rose to a 21-month high of 47.3 in September from a revised 39.3 in August. Prices for inputs fell at a less rapid clip. The Prices Paid index moved up to a nine-month high of 41.9 in September from a revised 35.7 in August.

Business Impediments: Working capital shortages remained elevated. The sharp rise in security concerns coincided with the recent FBI anti-terrorism measures and the meeting of the U.N. General Assembly.

New York City business activity in August expanded for the first time in three months, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index rose to 55.3 in August from 48.3 in July.

Future optimism brightened further. The Six-Month Outlook index stayed above 50 for the sixth straight month, rising to 65.5 in August from 59.3 in July. In a sign the downturn is ending, purchasing volume expanded for the first time in 20 months. The Quantity of Purchases index jumped to 54.0 in August from 31.8 in July.

The pace of job cuts continues to abate. The Employment index rose to an 14-month high of 40.0 in August from 37.5 in July. Cost pressures are not falling as quickly. The Prices Paid index came in at 38.0 in August from 25.0 in July.

Business Impediments: Working capital shortages remained elevated. However, the percentage of respondents reporting no difficulties was the highest in ten months, a reflection of an improving business climate.

New York City business activity contracted for a second time in July after May's bounce, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index came in at 48.3 in July from 44.8 in June.

Purchasing and supply management executives' confidence in recovery persisted and improved. The Six-Month Outlook index stayed above 50 for the fifth straight month, rising to 59.3 in July from 58.3 in June.

The pace of job cuts has abated. The Employment index rose to a 13-month high of 37.5 in July from 28.2 in June. Purchasing volume contracted for the nineteenth consecutive month, but stayed off the lows. The Quantity of Purchases index came in at 31.8 in July, compared to 34.6 in June.

Cost pressures remained subdued. The Prices Paid index fell to 25.0 in July from 30.8 in June.

Business Impediments: Working capital shortages matched the highest level since the question was first asked in the November 2007 Report on Business.

New York City business activity contracted in June after expanding in May, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index fell to 44.8 in June from 61.3 in May.

Purchasing and supply management executives maintain the view that recovery could begin this year. The Six- Month Outlook index stayed above 50 for the fourth straight month, rising to 58.3 in June from 56.1 in May. Purchasing volume continued to contract, but by the smallest amount in months. The Quantity of Purchases index rose to a ten-month high of 34.6 in June from 32.6 in May.

Cost pressures remained depressed, but are no longer falling at a more rapid pace. The Prices Paid index came in at 30.8 in June from 25.0 in May. The jobs picture stayed soft. The Employment index fell to 28.2 in June from 33.7 in May. Business Impediments: There were fewer skilled labor shortages, while working capital shortages were by far the biggest concern.

New York City business activity expanded for the first time since January 2008, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index rose sharply to 61.3 in May from 28.3 in April.

Future optimism persisted for the third straight month, reinforcing the belief that recovery could begin this year. The Six-Month Outlook index rose to 56.1 in May from 51.2 in April.

Purchasing volume and employment continued to contract, but by the smallest amount in months. The Quantity of Purchases index rose to an eight-month high of 32.6 in May from 27.6 in April, while the Employment index rose to a nine-month high of 33.7 in May from 30.0 in April.

Cost pressures remained nonexistent. The Prices Paid index came in at 25.0 in May compared to 24.5 in April.

Business Impediments: Working capital shortages were still the biggest concern. Skilled labor shortages have picked up so far this year after a zero reading in December, a sign that payroll job cuts may be lessening.

New York City business activity declined for a 15th straight month, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index fell to 28.3 in April, the lowest since 9/11, from March's revised level of 43.9.

Purchasing volume and employment continued to contract. The Quantity of Purchases index fell to 27.6 in April from a revised 30.6 in March, while the Employment index rose to 30.0 in April from a revised 23.6 last month. To be sure, the level for the Employment index was an eight-month high.

Cost pressures hit a record low since the inception of the Report on Business in 1993. The Prices Paid index fell to 24.5 in April from a revised 30.6 in March.

The news on the outlook was mixed. The Six-Month Outlook index came in at 51.2 in April, down from a revised 63.8 in March. However, these were the first back-to-back months above the breakeven 50 mark, indicating more optimism than pessimism, in about a year.

Business Impediments: Working capital shortages remained the biggest concern. But skilled labor shortages have picked up so far this year after a zero reading in December, a tentative sign that the worst of the payroll job declines may be behind us.

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.

End of the Tunnel Not in Sight. New York City business activity declined for a 13th consecutive month, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index fell to 29.6 in February, the lowest level since January 2002.

Purchasing managers' pessimism returned in earnest, this after a fleeting visit into optimistic territory last month. The Six-Month Outlook index plunged more than 20 points to 31.8 in February, suggesting that recovery is more than six months away.

Purchasing volume and employment remained depressed, and cost pressures continued to decline. The Quantity of Purchases index came in at 25.0, the Employment index was 21.9, and the Prices Paid index at 35.9 stayed near a seven-year low.

Business Impediments: Working capital shortages were still a key concern. Interestingly, skilled labor shortages were noted by the highest percentage of survey participants since April 2008

New York City business activity declined for a 12th straight month, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index stood at 38.4 in January.

Seasonally-adjusted series have been recalculated using updated seasonal factors. This affects Current Business Conditions, the Six-Month Outlook and the NY-BCI from January 2004 to December 2008. Please contact the NAPM-NY Business Survey Chair for the new historical data.

Purchasing volume and employment stayed depressed, while cost pressures continued to abate. The Quantity of Purchases index came in at 20.8, the Employment index was 22.2 and the Prices Paid index hit a seven-year low of 35.7.

Despite the persistent weakness in the current environment, purchasing managers turned optimistic at the turn of the year. The Six-Month Outlook index rose to 54.2 in January, the first positive showing since before the financial crisis intensified last September.

Business impediments: The economy continued to be an issue in "other" difficulties, while working capital shortages were an even bigger concern.

New York City business activity was essentially unchanged in December after falling sharply last month, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index rose to 50.1 in December.

Purchasing managers were less pessimistic about the outlook. The Six-Month Outlook index rose to 40.7 in December from last month¹s record low.

Purchasing volume stayed at a depressed level, and cost pressures fell for a third straight month. The Quantity of Purchases index came in at 22.2, while the Prices Paid index was 44.4.

The Employment index, a measure of current trends by area firms, rose to 27.8 in December, still indicative of sizable job cuts.

Business impediments: The economy continued to be an issue in "other" difficulties, while working capital shortages were an even bigger concern.

New York City business activity was the weakest in five years, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index fell to 33.3 in November, the lowest level since April 2003.

Purchasing managers have never been more pessimistic. The Six-Month Outlook index dropped to 29.7 in November, a record low in the 16-year history of the Report on Business. Purchasing volume also hit a record low, and cost pressures fell for a second straight month. The Quantity of Purchases index came in at 21.4, while the Prices Paid index was 47.1.

In this issue, we debut a new Employment index that measures current trends by area firms (data are not seasonally adjusted and history is available upon request). In November, the Employment index was a very weak 16.2, likely a reflection of the high degree of caution and need to manage costs aggressively

Business impediments: Common elements in the most popular answer, "other" difficulties, were concerns about the economy and financial markets. Working capital shortages stayed high on the list

The intensification of the financial crisis generated the worst month for New York City business activity since July 2007, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index dropped to 35.6 in October

Future pessimism diminished, with the Six-Month Outlook index bouncing back to 51.6 in October. However, the choppiness in the Outlook index in recent months makes purchasing managers appear uncertain about the near-term direction of the regional economy.

Cost pressures fell for the first time in a year and purchasing volume plunged to a five-year low. The Prices Paid index dipped below the breakeven 50 mark, to 47.8 in October, while the Quantity of Purchases index posted a poor reading of 27.7.

Business impediments: The ongoing credit crunch means working capital shortages remain prevalent.

New York City business activity in September contracted for the eighth time in nine months, according to the survey taken by the National Association of Purchasing Management-New York (NAPM-NY). The Current Business Conditions index fell to 39.1 in September. In the past, persistent weakness in business conditions has been a precursor to consistent job losses in New York City.

Financial market concerns permeated the survey during a month that included extreme stock market volatility, near seizure of credit markets and the bankruptcy of a major Wall Street investment house. The near-term future looks bleak according to area purchasing managers. The seasonally adjusted Six- Month Outlook index plunged to 39.3 in September, the second lowest reading in the 15-year history of the survey.

Cost pressures were not as great and purchasing volume deteriorated. The Prices Paid index eased to 68.1 in September, while the Quantity of Purchases index was 33.8. Business impediments: Working capital shortages remained elevated, while security concerns and weather were cited more frequently than last month.