The August ISM-New York Report on Business

The ISM-New York Report on Business is released on the second business day of each month at 9:45am ET. The purpose of the survey is to quickly assess business conditions among firms in the New York City area. 

The ISM-New York Report on Business began in 1917, and it was originally started to provide the United States government with information on manufacturing activity in the New York metro area against the backdrop of World War I. To this day it remains a highly regarded indicator of business conditions in the New York Metro area including a six-month outlook, employment index, and current and expected revenues. 

The August report, which can be downloaded here, allows us to make the following observations:

• Short term expectations seem measured, with volume of purchases, revenues, and expected revenues all either contracting or staying flat.
• The Six-Month Outlook increased to 65.5 in August, a significant increase in activity and the highest level reported since February.
• The combination of short term concern and longer term optimism may be a reaction to the uncertainty connected to the coming Presidential election – not the candidates themselves, but the lingering unknown of who will win.