New York City business activity expanded at its slowest pace in three months, according to the Institute for Supply Management-New York’s Report on Business current conditions index.
The current business conditions index slumped to 66.4 in March from 77.5 in February.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index decreased to 71.4 from 77.8. The New York City business conditions index climbed to 521.6 from 513.4.
The prices paid composite index decined to 63.0 in March from 68.2 in February, the quantity of purchases composite index dropped to 61.8 from 64.8, and the supplier delivery time diffusion index climbed to 55.5 from 50.0.
Employment decreased to 62.0 from 62.5.