Press Release (ePRNews.com) - MELVILLE, N.Y. - Jul 05, 2017 - Expecting to Finish 2017 Strong,New York City purchasing managers indicated they expect to close 2017 with increased business activity, according to the survey taken by the Institute for Supply Management-New York.
New York Metro
Current Business Conditions came in at 55.5 in June, returning to nearly the same level seen in April after a one month drop below breakeven to 46.7 in May. The Six-Month Outlook, which addresses expectations for December 2017, decreased for the fourth consecutive month without leaving growth territory, coming in at 64.5 in June. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Employment, a seasonally adjusted index, nearly broke even in June, coming in at 49.0, the highest finding in six months. Quantity of Purchases fell to precisely the breakeven point of 50.0 in June, down from 55.3 in May.
News for the top line and forward guidance pulled back from the optimism seen in May. Current Revenues fell below the breakeven point for the first time since January 2016, something that has happened only three times in the last five years (also in September 2013, 47.3 and November 2012, 45.8. Expected Revenues fell to 60.0 in June, the lowest level seen since September 2016.
Prices Paid reached 60.3, the highest level since November 2016 and a 10 point increase from May.
The ISM-New York REPORT ON BUSINESS is a monthly publication of ISM-New York, an affiliate of the Institute for Supply Management.
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