PRLog (Press Release) - Mar. 4, 2013 - NEW YORK -- New York City business activity expanded at the fastest pace in 11 months, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). Current Business Conditions came in at 58.8 in February.
The headline index has been on a steadily improving path since last May, with October’s hiccup from Hurricane Sandy the noticeable blemish.
The Six-Month Outlook rose to 64.1 in February, bouncing off January’s four-month low. Employment fell to a nine -month low of 49.3 in February and has been uneven, below the breakeven 50 mark in two of the last three months. Quantity of Purchases, 62.5 in February, matched December’s 19-month high. Prices Paid, 59.7 in February, hit a four-month high.
Revenues, 68.0 in February, rose to the highest level since the index was first introduced in February 2012, while Expected Demand, 64.8 in February, continued to expand at a healthy rate. Working capital shortages were the largest business impediment in February.
Skilled labor shortages stayed elevated, so did Weather/Natural disasters. “Other” difficulties diminished to a record low. This response tends to capture broader economic concerns.
For a complete copy of the report, visit our web site at http://www.ismny.org.
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