(8/14/2014) The July 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 July 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 68.1, the highest level (most expansion) since November of 2013.
If you have 60 seconds, here is a little more:
- Future optimism rose to a five month high of 70.7.
- After two slow months, job growth accelerated to the best reading in five months: 59.5.
- Quantity of Purchases slowed again to 54.8, while Prices Paid increased at the fastest rate in four months, to 64.3.
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) contracted to 85. After last month's movement towards opportunities, 17 of the 25 constraints were seen as impediments in July.
- There are seventeen impediments, one neutral constraint, and seven opportunities.
- Regulations moved up thirteen positions as an increasing impediment. Occupancy moved nine positions into opportunity territory.