New York City business activity contracted in July, according to the National Association of Purchasing Management-New York’s Report on Business.
The current business conditions index rose to 48.3 in July from 44.8 in June, the NAPM-NY reported Friday. A reading below 50.0 indicates contraction.
The report’s six-month outlook index increased to 59.3 from 58.3. The NY-BCI dropped to 358.2 from 359.0.
The prices paid composite index slid to 25.0 in July from 30.8 in June, the quantity of purchases composite index fell to 31.8 from 34.6, and the supplier delivery time diffusion index fell to 53.4 from 55.1. Employment climbed to 37.5 from 28.2.
