Research >> Economics
New York Purchasing Managers business activity declined
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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.
Posted: January 30, 2009 Friday 10:00 AM