NEW YORK – New York City business activity rebounded from a two-year low, as the current business conditions index improved to 57.2 in July from52.6 in June, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
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A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 63.2 from 53.9. The NY-BCI climbed to 538.8 from 535.1.
The prices paid composite index soared to 61.4 this month from 46.7 last month, the quantity of purchases composite index slid to 45.5 from 48.9, and the supplier delivery time diffusion index slipped to 52.3 from 54.3. Employment dropped to 46.6 from 47.8.
