New York City business activity expanded in August, marking its first growth in three months, according to the National Association of Purchasing Management-New York's Report on Business.
The current business conditions index rose to 55.3 in August from 48.3 in July, the NAPM-NY reported yesterday. A reading above 50.0 indicates expansion.
The report's six-month outlook index increased to 65.5 from 59.3, while the NY-BCI climbed to 360.8 from 358.2.
The prices paid composite index surged to 38.0 in August from 25.0 in July, the quantity of purchases composite index soared to 54.0 from 31.8, and the supplier delivery time diffusion index fell to 52.0 from 53.4. Employment climbed to 40.0 from 37.5.