"New York City purchasing managers reported strong optimism in addition to a faster pace of activity in March," as the current business conditions index increased to 56.5 in March from 51.3 in February, 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 rose to 75.6 in March from 64.4 in February. The NY-BCI, a cumulative diffusion index, gained to 735.1 from 731.9.
The prices paid composite index declined to 48.1 from 51.8, the quantity of purchases composite index grew to 57.4 from 53.3, employment climbed to 47.7 from 43.2, the current month's revenues index rose to 65.4 from 62.1, and the expected level of revenues jumped to 80.0 from 66.7.
