ISM-New York October 2011 Report On Business at 44 - Lowest since April 2009

Oct. 31, 2011 - PRLog -- New York City business activity contracted at the fastest rate since the Great Recession, according to the survey taken by the Institute for Supply Management-New York (ISM-NY).

The Current Business Conditions index fell to 44.0 in October, the lowest level since April 2009, from 50 .6 in September. It also was the second contraction in the last three months.

Future optimism remained in positive territory, but less so than last mon th, suggesting that purchasing and sup ply executives think the slowdown could be temporary. The Six-Month Outlook in dex fell to 54.9 in October from 55.9 in September.

Details on purchase volume and employment were decidedly negative. The Quantity of Purchases index (44.4 October vs. 54.8 September) fell to the lowest level in a year, while the Employment index (37.8 October vs. 48.8 September) was the lowest in over
two years.

Price/cost pressures moderated . The Prices Paid index eased to 54.4 in October from 61.0 in September.  Business impediments reflected the weaker fundamental readings in the rep ort. Skilled lab or shortages fell sharply and working cap ital shortages
posted a sizable rise.

For full details of the report, visit http://www.ismny.org/report-on-business.asp

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ISM-New York is a not-for profit association that exists to educate, develop, & advance the purchasing & supply management profession. Members of ISM-New York are recognized as world-class professionals from small, medium & large organizations in NYC.