NEW YORK – New York City business activity expanded but at a slower rate in April as the current business conditions index fell from a thirteen-month high to 61.2 in April from 67.4 in March, the Institute for Supply Management-New York’s Report on Business index, released Wednesday, indicated.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index receded to 63.1 from 79.5. The NY-BCI climbed to 557.4 from 551.8.
The prices paid composite index rose to 61.8 this month from 59.3 last month, the quantity of purchases composite index grew to 54.1 from 51.1, and the supplier delivery time diffusion index gained to 54.1 from 52.4. Employment jumped to 53.8 from 51.2.
Businesses generally reported no impediments, although respondents saying, “security concerns” doubled to 18% from 9% in the prior survey.
Most respondents said their organization expenses, year-to-date, were running in line with budget projections.