(9/4/2014) 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.
The full August 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 57.1, a slowdown after July's eight-month high.
If you have 60 seconds, here is a little more:
- Future optimism fell, albeit slightly, to 67.8.
- Job growth accelerated to the best reading on record (since 2007), to 67.4.
- Quantity of Purchases rose to 59.1, while Prices Paid hit a three-year high of 67.4.
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 (Domestic Demand) to greatest impediment (Cost of Benefits) contracted to 72. After a negative month for constraints in July, the factors were balanced in August.
- There are twelve impediments, one neutral constraint, and twelve opportunities.
- Competition and Raw materials both moved nine positions as increasing impediments. Inflation, Insurance, Capital Equipment, and Technology moved six positions towards becoming opportunities.