New York City business activity expanded at the slowest pace in three months, according to the survey taken by the Institute for Supply Management-New York (ISM-New York).
Current Business Conditions were 57.1 in August, cooling down from July’s eight-month high, but still running above the long-run average (between 55-56).
Future optimism came off a five-month high, but maintained solid expansion. The Six-Month Outlook came in at 67.8 in August.
Job growth accelerated to the best reading on record since this series began in November 2007. Employment improved to 67.4 in August.
Purchase volume quickened to a six-month high. Quantity of Purchases rose to 59.1 in August.
Price measures firmed. Prices Paid increased to a three-year high of 67.4 in August, and Prices Received hit a six-month high of 62.5 in August.
The top line and forward guidance both improved to the highest levels in six months. Current Revenues were 71.4 in August, and Expected Revenues were 75.0 in August.
Potential Business Opportunities/
For a complete copy our our report visit our website at http://www.ismny.org.