New York City business activity "eased in August after a seven month high in July," although the current business conditions index dropped to 47.5 in August from 60.7 in July, the Institute for Supply Management-New York's Report on Business index, released Friday, 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 65.5 in August from 56.8 in July. The NY-BCI, a cumulative diffusion index, decreased to 719.9 from 721.1.
The prices paid composite index rose to 60.3 from 48.3, the quantity of purchases composite index declined to 44.6 from 48.3, employment rose to 54.9 from 45.3, the current month's revenues index dropped to 50.0 from 55.6, and the expected level of revenues slid to 57.1 from 62.1.
