New York City business activity grew at a faster pace in July, as the current business conditions index climbed to 68.1 from 60.5 in June, the Institute for Supply Management-New York's Report on Business index, released Monday, 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 gained to 70.7 in July from 68.0 in June. The NY-BCI, a cumulative diffusion index, increased to 644.4 from 635.3.
The prices paid composite index grew to 64.3 from 58.7, prices received composite index held at 50.0, the quantity of purchases composite index fell to 54.8 from 56.3, employment rose to 59.5 from 51.0, the current month's revenues index declined to 61.8 from 66.7, and the expected level of revenues dipped to 72.2 from 72.7.
