"New York City purchasing managers maintained their optimism while adjusting to 'new' normal business conditions in January," as the current business conditions index decreased to 57.7 in December from 63.8 in December, 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 66.2 in December from 74.2 in December. The NY-BCI, a cumulative diffusion index, gained to 731.3 from 727.4.
The prices paid composite index declined to 54.7 from 57.5, the quantity of purchases composite index dropped to 46.9 from 58.0, employment rose to 54.8 from 42.0, the current month's revenues index remained at 55.0, and the expected level of revenues grew to 69.0 from 67.5.
