Business activity in New York City contracts for the first time in 19 months
Business activity in New York contracted for the first time in 19 months in January.
The latest report on business from the Institute for Supply Management showed the activity index fell to 44.5 in January from 70.8 in December. Any reading under 50 indicates contraction in business activity.
ISM's report showed that the headline reading fell to a six-year low in January after hitting a four-year high just one month earlier.
The optimism gauge also fell to a nine-month low in January.
Additionally, the report noted that, "Price measures ran counter to oil and gasoline prices. Prices Paid rose to a four-year high of 67.5 in January, and Prices Received moved up to to 55.6 in January."
So, just one regional measure, but not a good start to the year. At least for business in New York City.
ISM
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member