NEW YORK – New York City business activity decreased at a record pace in June, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
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The current business conditions index plunged to 69.3 in June, down from 89.9 in May.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index decreased to 69.6 from 84.2. The NY-BCI climbed to 458.9 from 449.3.
The prices paid composite index jumped to 51.8 this month from 44.4 last month, the quantity of purchases composite index dipped to 58.9 from 62.0, and the supplier delivery time diffusion index grew to 55.4 from 53.4. Employment gained to 64.3 from 63.3.
