New York City business activity expanded at an above-average pace in August, although off from July's rate, as the current business conditions index slid to 60.5 from 67.8 in July, the Institute for Supply Management-New York's Report on Business index, released Wednesday, indicated.

A reading above 50.0 indicates expansion. The employment index is published on a seasonally adjusted basis.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.