ISM-New York June 2016 Report On Business At 45.4

NEW YORK - July 5, 2016 - PRLog -- New York City business activity contracted in back-to-back months for the first time since the Great Recession, according to the survey taken by the Institute for Supply Management-New York.

The June survey period ran from the 3rd to the 30th, and 97% of responses occurred before Brexit.

New York Metro
Current Business Conditions came in at 45.4 in June, remaining below the breakeven 50 level for a second straight month.

The Six-Month Outlook showed another sign of stabilization, rising to a three-month high of 59.5 in June. This resilience will be tested in July.

Company Specific
Companies continued to reveal persistent caution. Labor contracted for the ninth time in the last ten months and by the most in seven years. Employment fell to 35.9 in June.

Purchase volume contracted for the third straight month. Quantity of Purchases came in at 46.7 in June.

News for the top line and forward guidance moderated compared to last month. Current Revenues eased to 55.6 in June. Expected Revenues pulled back to 57.1 in June.

Cost pressures rose for the first time in four months. Prices Paid increased to 55.0 in June.

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