New York City business activity grew at a faster pace in September, as the current business conditions index gained to 63.7 from 57.1 in August, 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 grew to 71.4 in September from 67.8 in August. The NY-BCI, a cumulative diffusion index, increased to 654.8 from 648.0.
The prices paid composite index fell to 52.5 from 67.4, prices received composite index dropped to 52.5 from 62.5, the quantity of purchases composite index grew to 60.5 from 59.1, employment slumped to 57.0 from 67.4, the current month's revenues index decreased to 67.5 from 71.4, and the expected level of revenues climbed to 76.3 from 75.0.
