March NAPM-NY Index Up To 46.3 From 43.4 in Feb.

The contraction continued for York City business conditions in early 2008, according to the New York current business conditions index in the National Association of Purchasing Management-New York’s Report on Business. The index increased in March to 46.3 from 43.4 in February, the NAPM-NY reported yesterday.

The report’s six-month outlook index improved to 50.0 from 47.5. The NY-BCI decreased to 425.8 from 427.7. The NY-BCI is “a cumulative diffusion index constructed from the diffusion index of current business conditions for non-manufacturing businesses in the New York City area. The NY-BCI often precedes local employment trends,” NAPM-NY said. “Moreover, the NY-BCI offers advance information about forthcoming local labor market conditions because the count of local jobs is not available for one or two months.”

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