New York City business activity "accelerated" in April, as the current business conditions index increased to 58.1, from 50.0 in March, the Institute for Supply Management-New York's Report on Business index, released Monday, 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 73.4 in April from 69.4 in March. The NY-BCI, a cumulative diffusion index, increased to 681.7 from 677.6.
The prices paid composite index grew to 66.7 from 54.2, prices received composite index gained to 60.0 from 52.2, the quantity of purchases composite index climbed to 55.3 from 54.8, employment increased to 60.0 from 53.7, the current month's revenues index soared to 68.8 from 50.0, and the expected level of revenues surged to 81.3 from 58.7.
