NEW YORK – New York City business activity expanded, but at a much slower pace in August, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
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The current business conditions index slumped to 55.6 in August from 58.4 in July, after hitting a record 89.9 in May.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index decreased to 58.4 from 69.6. The NY-BCI climbed to 466.5 from 463.6.
The prices paid composite index dipped to 43.2 this month from 48.5 last month, the quantity of purchases composite index fell to 54.3 from 59.4, and the supplier delivery time diffusion index slid to 51.1 from 56.1. Employment dropped to 50.0 from 51.5.
