New York City businesses in October suffered their worst month since July 2007, contracting for the ninth time in the past 10 months, according to the National Association of Purchasing Management-New York’s Report on Business released Friday.
The current business conditions index sank to 35.6 in September from 39.1 in September, the NAPM-NY reported Friday.
The report’s six-month outlook index surged to 51.6 from 39.3. The NY-BCI slipped to 396.8 from 404.0. “However, the choppiness in the outlook index in recent months makes purchasing managers appear uncertain about the near-term direction of the regional economy,” NAPM said.
