"New York City purchasing managers reported slower growth while still indicating a faster pace of activity in February," as the current business conditions index decreased to 51.3 in February from 57.7 in January, the Institute for Supply Management-New York's Report on Business index, released Thursday, 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 fell to 58.2 in February from 66.2 in January. The NY-BCI, a cumulative diffusion index, gained to 731.9 from 731.3.
The prices paid composite index declined to 51.8 from 54.7, the quantity of purchases composite index grew to 53.3 from 46.9, employment dropped to 43.2 from 54.8, the current month's revenues index rose to 62.1 from 55.0, and the expected level of revenues slid to 66.7 from 69.0.
