New York City business activity expanded in July, as the current business conditions index soared to 67.8 from 47.0 in June, the Institute for Supply Management-New York's Report on Business index, released Friday, indicated.
A reading above 50.0 indicates expansion. The employment index is published on a seasonally adjusted basis.
The report's six-month outlook index slipped to 65.3 from 66.1. The NY-BCI increased to 587.0 from 578.1.
The prices paid composite index grew to 53.4 from 50.0, the quantity of purchases composite index fell to 53.6 from 55.8, employment gained to 54.1 from 50.8, the current month's revenues index rose to 58.9 from 50.0, and the expected level of revenues increased to 60.3 from 50.0.
