New York City business activity decreased at a record pace in June, according to the Institute for Supply Management-New York’s Report on Business.
Its current business conditions index plunged to 69.3 in June, down from 89.9 in May. Readings above 50.0 indicate expansion.
The report’s six-month outlook index decreased to 69.6 from 84.2. The prices paid composite index jumped to 51.8 this month from 44.4 last month.