May ISM-NY Current Business Index Falls to 54.0

New York City business activity "moderated" in May, as the current business conditions index declined to 54.0, from 58.1 in April, 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 dropped to 61.8 in May from 73.4 in April. The NY-BCI, a cumulative diffusion index, increased to 683.7 from 681.7.

The prices paid composite index fell to 55.0 from 66.7, prices received composite index plunged to 47.2 from 60.0, the quantity of purchases composite index climbed to 60.5 from 55.3, employment decreased to 57.3 from 60.0, the current month's revenues index sank to 55.6 from 68.8, and the expected level of revenues slipped to 80.6 from 81.3.

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