New York City business activity "expanded at the slowest pace in five months," in February, as the current business conditions index fell to 53.6, from 54.6 in January, 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.
The report's six-month outlook index rose to 66.3 in February from 63.3 in January. The NY-BCI, a cumulative diffusion index, increased to 720.8 from 718.9.
The prices paid composite index fell to 54.2 from 60.7, the quantity of purchases composite index increased to 58.0 from 46.4, employment declined to 49.3 from 56.9, the current month's revenues index rose to 56.3 from 45.8, and the expected level of revenues gained to 58.3 from 50.0.
