Global| Feb 03 2015New York State Economic Conditions Deteriorate As Pricing Improves
by:Tom Moeller
|in:Economy in Brief
Summary
The Institute for Supply Management reported that, for New York State, their January index of business conditions expected in six months declined to 66.9, the lowest level in nine months. In addition, the reading for current economic [...]
The Institute for Supply Management reported that, for New York State, their January index of business conditions expected in six months declined to 66.9, the lowest level in nine months. In addition, the reading for current economic conditions fell to 44.5, the first month below the breakeven level of 50 since June 2013.
Pricing power, however, improved. The January index of prices paid rose to 67.5, its highest level since May 2011.
The ISM figures are diffusion indexes and can be found in Haver's SURVEYS database. A diffusion index reading of more than 50% denotes growth while a reading of under 50% implies a contraction.
Persistent Overoptimism about Economic Growth from the Federal Reserve Bank of San Francisco is available here.
| ISM New York (Diffusion Index) | Jan | Dec | Nov | Jan'14 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Economic Conditions Six Months Hence (SA) | 66.9 | 72.9 | 70.5 | 70.0 | 69.5 | 65.0 | 64.9 |
| Current Economic Conditions (SA) | 44.5 | 70.8 | 62.4 | 64.4 | 59.7 | 58.4 | 55.2 |
| Prices Paid (NSA) | 67.5 | 54.5 | 62.5 | 63.0 | 61.2 | 55.3 | 56.4 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
