Press Release (ePRNews.com) - MELVILLE, N.Y. - Aug 02, 2017 - New York City purchasing managers reported increased current business conditions while indicating significant drops in employment and current revenues, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions came in at 62.8 in July, the highest level seen since December of 2016. The Six-Month Outlook, which now addresses expectations for January 2018, decreased for the fourth consecutive month without leaving growth territory, coming in at 58.1 in July. The rate of decrease has also increased month over month since March. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Employment, a seasonally adjusted index, fell to 36.1 in July after nearly breaking even in June. Quantity of Purchases increased to 52.8 in July after breaking even in June.
News for the top line and forward guidance doubled down on the low numbers reported in June. Current Revenues fell to 44.4 in July from 46.9 in June, the lowest point since this index was included in the Report on Business in February 2012. July also marks the first time current revenues have been below breakeven for two months in a row.
Expected Revenues increased to 69.4 in July, reaching a four-month high. Prices Paid fell to 52.8 in July after a 1-month uptick to 60.3 in June.
The ISM-New York REPORT ON BUSINESS is a monthly publication of ISM-New York, an affiliate of the Institute for Supply Management.
Permission is granted to duplicate, republish or quote in whole or in part with credit. For Internet access, connect to: http://www.ismny.com for a complete copy of our report.
ISM-New York, Inc.