NEW YORK CITY REPORT ON BUSINESS Four-Year Low As Business Activity Contracted at Fastest Pace In 4 Years
PRLog - Jul 02, 2013 - NEW YORK -- NEW YORK CITY REPORT ON BUSINESS Four-Year Low
New York City business activity contracted at the fastest pace in four years, according to the survey taken by the Institute for Supply Management-New York (ISM-New York).
Current Business Conditions came in at 47.0 in June, the lowest level since May 2009.
Future optimism didn't flinch, however, suggesting the drop in current conditions could be temporary. The Six-Month Outlook came in at 66.1 in June.
The jobs picture improved. Employment rose back above the breakeven 50 line, to 50.8 in June. Purchase volume turned positive. Quantity of Purchases, 55.8 in June, bounced sharply off May’s eight-month low.
Prices Paid, 50.0 in June, hit a 12-month low. Revenues, 50.0 in June, matched May’s six-month low, and Expected Demand, 50.0 in June, also shifted into neutral for the first time in three months.
Business impediments had a less favorable tone compared to last month. “No difficulties” was still the most popular response, but working capital shortages increased and skilled labor shortages decreased.
For a complete copy of the report, please visit our web site at http://ismny.org.
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ISM-New York June 2013 Report On Business At 47.0
July 02, 2013 at 09:45 AM EDT
