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August ISM New York Business Index: 47.8 down from 57.2 in July. Despite weak current activity,...

August ISM New York Business Index: 47.8 down from 57.2 in July. Despite weak current activity, "future optimism remained in positive territory," the report said. The six-month outlook index fell to 59.9 in August from 63.2 in July.
Comments (8)
  • Hm. 47.8 ... that's *down* from 57.2, isn't it?
    31 Aug 2011, 08:58 AM Reply Like
  • Or a typo? Maybe should read 57.8?
    31 Aug 2011, 09:03 AM Reply Like
  • Yes. It should read 'down from 57.2'. Corrected.

     

    Thanks
    Mohit
    31 Aug 2011, 09:05 AM Reply Like
  • No, you must be referring to 'real world' measurements which don't apply in the world of interpreting economic data... LOL.
    31 Aug 2011, 09:02 AM Reply Like
  • Rally!
    31 Aug 2011, 09:05 AM Reply Like
  • It's opposite day...
    31 Aug 2011, 09:49 AM Reply Like
  • Should be:

     

    ISM-New York: August Business Conditions Index Lowest Since June 2009

     

    NEW YORK -(Dow Jones)- New York City business contracted in August for the first time since the end of the recession, according to a report released Wednesday.

     

    The Institute for Supply Management-New York's Current Business Conditions index plunged to 47.8 this month, from 57.2 in July. The August index was the lowest since June 2009 when the U.S. economy was coming out of recession.

     

    An index reading above 50 indicates a faster pace of activity and below 50 indicates a slower or contracting rate.

     

    The sub-indexes improved but were mostly in contractionary territory.

     

    The ISM-NY's employment index edged up to 48.6 from 46.6 in July, while the purchasing-volume index rose to 47.1 from 45.5.
    31 Aug 2011, 09:48 AM Reply Like
  • "future optimism remained in positive territory,"

     

    I think that translates into "good grief, it can't get any worse can it?"
    31 Aug 2011, 12:10 PM Reply Like
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