Research >> Economics
New York Purchasing Managers Business Activity surged in December to 63.8
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New York City purchasing managers shared a surge of forward looking optimism to end 2016 according to the survey taken by the Institute for Supply Management-New York. While not all of the indices in the December Report were directionally aligned with the Six-Month Outlook, the responses to this portion of the survey mark December 2016 as the highest year-end optimism seen since 2010.
New York Metro
Current Business Conditions came in at 63.8 in December, reaching a fourteen-month high. As noted above, the Six-Month Outlook significantly increased to 74.2 after coming in at 60.8 in November. This is the highest level of optimism seen in eighteen months. The six-month outlook has been a reliable short-run guide for current business conditions over time.
Company Specific
Employment, a seasonally adjusted index, dropped to 42.0 in December after rising above the breakeven point to reach 52.3 in November. Quantity of Purchases came in at 58.0 in November, continuing the trajectory seen in November and tying with February for the 2016 high.
News for the top line and forward guidance continued to be positive, albeit without seeing significant changes over last month. Current Revenues were 55.0 in December. Expected Revenues reached 67.5 in December, topping November's six month high of 66.7. Prices Paid decreased to 57.5 in December after reaching a five year high of 69.2 in November.
Posted: January 4, 2017 Wednesday 08:30 AM