ISM-New York Report On Business October 2016 At 49.2

MELVILLE, N.Y. - Nov. 2, 2016 - PRLog -- New York City business activity held steady for the second month in a row, and employment returned to a neutral level after the sharp drop seen in September, according to the survey taken by the Institute for Supply Management-New York.

After employment dropped to the lowest level since the Great Recession of 2008 in September, in October it returned to nearly the same level seen in August.

New York Metro
Current Business Conditions came in at 49.2 in October, continuing to hover just below the break even point of 50.0 for the third month in a row.

The Six-Month Outlook fell for the second month in a row, coming in at 56.9 in October, down from 59.6 in September. The six-month outlook has been a reliable short-run guide for current business conditions over time.

Company Specific
Employment, a seasonally adjusted index, came in at 50.6 in October, stabilizing after September's eight year low. The biggest response increase was in the 'somewhat likely to increase' category, pullingnumbers from the 'no change' and 'very likely to decrease' response categories. Quantity of Purchases came in at 44.3 in October, walking back the marginal increase seen in September.

News for the top line and forward guidance was unchanged. Current Revenues was at 51.4 in October, falling just 0.2 from September. Expected Revenues stayed the same, coming in at 60.3 for the second month in a row.

Cost pressures fell as Prices Paid dropped to 55.6 in October, down from 60.3 in September.

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