(11/5/2013) The October 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.
The full October ISM-NY Report on Business is available here ISM-NY Report on Business is available here or on ISM New York's site as a download.
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 rose to 59.3 in October, up slightly despite the government shutdown.
- Future optimism rose to a three month high of 63.6 after last month's four year low of 59.1 in September.
- Employment stayed in neutral territory at 50.3, a change of only 0.1 from September.
- Purchase volume contracted by the most in three years, but some of this looks to be due to seasonal patterns. Quantity of Purchases fell to 42.9 in October..
If you have 60 seconds, here is a little more:
October Question of the Month: In your opinion, in the quarter ended September, are your department/company expenses running above, in line or below budgeted projections?
If you have 2 whole minutes to give:
The increased coverage of business constraints in the Report on Business includes the following:
- An increase in the total swing from greatest opportunity (Domestic demand) to greatest impediment (Cost of benefits) from 81 to 87
- Cost of benefits remains the top impediment, and has held that position since ISM NY started the increased coverage of constraints in July 2013.
- Sixteen impediments above the breakeven point, one with an expected net effect of zero, and 8 opportunities.
- Competition moved up 8 positions as an increasing impediment, and Unskilled labor moved 12 positions, moving into opportunity territory.