ISM-New York September 2016 Report On Business At 49.6
While minor adjustments were observed in all of the indices this month, Employment plummeted, dropping to the lowest level since the Great Recession of 2008 and its after effects in 2009.
New York Metro
Current Business Conditions came in at 49.6 in September, hovering just below the break even point of 50.0 and slightly higher than the 47.5 seen in August.
The Six-Month Outlook may have lost some ground, falling from 65.5 in August to 59.6 in September, but it remained squarely in growth territory. The six-month outlook has been a reliable short-run guide for current business conditions over time.
This month's major finding relates to Employment, a seasonally adjusted index, that dropped to 33.9 in September, a marked decrease from the 54.9 seen in August. Quantity of Purchases came in at 47.1 in September, marginally higher than in August.
News for the top line and forward guidance was mixed but minor. Current Revenue was at 51.6 in September, a minor positive change from August. Expected Revenues fell just 0.04 to 56.7 in September.Cost pressures were neutral.
Prices Paid stayed flat at 60.3 in September.
For a complete copy of our report visit our website at http://www.ismny.com.