New York City business activity "accelerated" in June, as the current business conditions index increased to 63.1, from 54.0 in May, the Institute for Supply Management-New York's Report on Business index, released Thursday, 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 soared to 78.0 in June from 61.8 in May. The NY-BCI, a cumulative diffusion index, increased to 690.2 from 683.7.
The prices paid composite index rose to 56.3 from 55.0, prices received composite index surged to 57.1 from 47.2, the quantity of purchases composite index climbed to 62.5 from 60.5, employment increased to 63.4 from 57.3, the current month's revenues index jumped to 71.4 from 55.6, and the expected level of revenues slipped to 76.9 from 80.6.
