New York City business activity was down in January, according to the National Association of Purchasing Management-New York’s Report on Business.

The current business conditions index slumped to 38.4 in January from 43.1 in December, the NAPM-NY reported today. The index has fallen every month for a year. The December number, originally reported as 50.1, was revised as a result of seasonal adjustment recalculations.

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