June 2009
NEW YORK CITY REPORT ON BUSINESS:
Not So Fast
(Released June 30, 2009)
New York City business activity contracted in June after expanding in May,
according to the survey taken by the National Association of Purchasing
Management-New York (NAPM-NY). The Current Business Conditions index fell to
44.8 in June from 61.3 in May.
Purchasing and supply management executives maintain the view that recovery
could begin this year. The Six- Month Outlook index stayed above 50 for the
fourth straight month, rising to 58.3 in June from 56.1 in May. Purchasing
volume continued to contract, but by the smallest amount in months. The
Quantity of Purchases index rose to a ten-month high of 34.6 in June from
32.6 in May.
Cost pressures remained depressed, but are no longer falling at a more rapid
pace. The Prices Paid index came in at 30.8 in June from 25.0 in May. The
jobs picture stayed soft. The Employment index fell to 28.2 in June from
33.7 in May. Business Impediments: There were fewer skilled labor shortages,
while working capital shortages were by far the biggest concern.
| |
Jun |
|
May |
|
Apr |
|
| Skilled labor shortage: |
5% |
|
15% |
|
12% |
|
| Unskilled labor shortage |
0% |
|
4% |
|
4% |
|
| Working capital shortage: |
33% |
|
30% |
|
28% |
|
| Raw material shortage: |
3% |
|
2% |
|
6% |
|
| Security concerns: |
13% |
|
11% |
|
8% |
|
| Abnormal weather: |
3% |
|
2% |
|
0% |
|
| "Other" difficulties: |
23% |
|
17% |
|
22% |
|
| No difficulties: |
21% |
|
15% |
|
18% |
|
June's Question of the Month: What are your firm's plans for average selling prices of its goods or services during the next 6 months? An overwhelming number of respondents said selling prices would be steady, suggesting that they do not expect to have pricing power over the balance of the year.
Raise: 3%
Hold Steady: 90%
Lower: 7%
The NAPM-New York REPORT ON BUSINESS is a monthly publication of NAPM-New York. Permission is granted to duplicate, republish or quote in whole or in part with credit. For technical questions on the survey, please contact Jonathan Basile via phone: 212-538-1436 or email: jonathan.basile@credit-suisse.com
 |
Download the current edition - June 2009 (PDF Edition) |
Report on Business Archive
