February ISM-NY Current Business Index Surges to 63.1

New York City business activity expanded in February, as the current business conditions index rebounded to 63.1, from 44.5 in January, the Institute for Supply Management-New York's Report on Business index, released Tuesday, 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 grew to 71.1 in February from 66.9 in January. The NY-BCI, a cumulative diffusion index, increased to 677.6 from 671.1.

The prices paid composite index fell to 61.4 from 67.5, prices received composite index slid to 50.0 from 55.6, the quantity of purchases composite index slumped to 54.8 from 69.0, employment declined to 49.3 from 55.4, the current month's revenues index dipped to 63.2 from 68.4, and the expected level of revenues increased to 76.3 from 75.0.

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