ISM-New York February 2016 Report On Business at 53.6

MELVILLE, N.Y. - March 2, 2016 - PRLog -- New York City business activity expanded at the slowest pace in five months, according to the survey taken by the Institute for Supply Management-New York (ISM-New York).

New York Metro

Current Business Conditions fell to 53.6 in February, the lowest level since September 2015, and has downshifted in three of the last four months. The Q1-to-date average (54.1) started the year below the long-run average (55.8).

The Six-Month Outlook moved up to 66.3 in February, off January’s four-month low. Future optimism has moderated since reaching a five-year high in June of last year, but is not raising warning flags about continued expansion in the New York Metro area.

Company Specific

Labor contracted for the fifth time in the last six months, while purchase volume expanded for the first time in six months. Employment declined to 49.3 in February. Quantity of Purchases increased to 58.0 in February.

The tone improved this month for the top line and forward guidance. Current Revenues bounced back to 56.3 in February after contracting in January. Expected Revenues rose to 58.3 in February after stalling the prior two months.

Cost pressures eased. Prices Paid fell to a four-month low of 54.2 in February.

For a complete copy of our report, visit our website at http://www.ismny.com.