October US ISM NY index

Much higher than expectations.

  • Employment to 46.3 vs 44.9 last month
  • Prices paid 46.2 vs 43.8 last month
  • Prices received 40.9 vs 50 last month
  • Revenues 54.2 vs 52.9 last month
  • Quantity of purchases 46.2 vs 43.8
  • Expected demand in 6M 58.2 vs 64.7

The Outlook index rose sharply to 74.0 vs 62.8 last month.

54% of the firms reported that cost of benefits is the largest impediment
31% said taxes were an impediment
31% said inflation was an impediment
23% said competition was an impediment
31% said cost of labor was an impediment.

Although much better than expected, it seems to be a quirky number (the chart below shows the up and down volatility in the series). The components within the report, for instance, showed that employment rose to 46.3 from 44.9 but it still is below the 50 level indicative of expansion.

The dollar is higher nevertheless, with the EURUSD trading at 1.0947 currently and the USDJPY extending to 121.18 - both extremes for the day.