(4/10/2014) The March 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 March 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 52.0, the slowest rate of expansion in nine months. Unlike last months report, other indicators reflected this cautious attitude.
If you have 60 seconds, here is a little more:
- Future optimism fell to a five-month low of 65.6.
- After a positive spike in February, Employment fell to 57.8.
- Quantity of Purchases fell to 52.3 and Prices Paid fell to 65.2 after last month's three year high.
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 (Management Skills) to greatest impediment (Cost of benefits) increased by 12%.
- There are twenty impediments above the breakeven point, and five opportunities. There were no opportunity neutral factors this month.
- Interest rates moved up thirteen positions as an increasing impediment, and Competition fell twelve positions, becoming opportunity rather than an impediment.