(9/12/2013) The August ISM-NY Report on Business... in 30 seconds, 60 seconds, or 2 minutes
The ISM-New York Report on Business is released on the second business day of each month at 9:45 AM Eastern. Buyers Meeting Point has been following the ISM reports on business for a while now, helping you apply information from the indexes (which is collected from procurement professionals) to your own work. If you have never read the report, it can take some adjustment. We boil each report down to the most basic and usable components. The most important thing to keep in mind when reading this report is that no one number represents the findings of the report; each piece of data only has value when considered as part of a trend - relative to the month(s) or year before.
Note: A reading of 50% means no change from the prior month, greater than 50% indicates a faster pace of activity, and less than 50% a slower rate.
If you only have 30 seconds, here is what you should know about this month’s report:
The Current Business Conditions index came in at 60.5 in August, and with July's 67.8 becomes the first back to back months over 60 in two years.
- Future optimism continued to expand to 65.3 in August.
- Employment rose to a two-year high of 59.8.
- Purchase volumes were up and Prices paid fell to the lowest level in three years.
If you have 60 seconds, here is a little more:
August Question of the Month: In your opinion, what are you firm's plans for worker compensation during the next six months?
If you have 2 whole minutes to give:
The increased coverage of business constraints in the Report on Business includes the following:
- A reduce in the total swing of greatest opportunity - greatest impediment from 87 to 75
- The first two impediments remained the same from last month, Cost of benefits and Inflation
- An increase in the number of impediments above the breakeven point of 0 from 14 to 18.
- Insurance made the largest move up in terms of impediment impact, and working capital fell the furthest.