(2/11/2014) The January 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 January ISM-NY Report on Business is available 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 came in at 64.4, staying above the 60 mark for three months in a row for the first time in three years.
- Future optimism continued high for the second month in a row at 70.0.
- Employment rose to a three year high of 60.7.
- Quantity of Purchases rose to a five month high of 53.8 and Prices Paid rose to a ten month high of 63.0.
If you have 60 seconds, here is a little more:
December Question of the Month: In your opinion, in the quarter ended December, are your department/company expenses running above, in line or below budgeted predictions?
If you have 2 whole minutes to give:
The detailed coverage of business constraints in the Report on Business includes the following:
- The total swing from greatest opportunity (Banking) to greatest impediment (Regulations) compressed to 69, down from 80 last month.
- Cost of benefits was unseated by regulations as the top constraint for the first time since ISM NY started the increased coverage of constraints in July 2013.
- There are fifteen impediments above the breakeven point, four with an expected net effect of zero, and six opportunities.
- Project Distribution moved up twelve positions as an increasing impediment, and Abnormal Weather and/or Natural Disasters fell seven positions, likely due to the extreme cold and stormy weather affecting the Northeast.