New York City business activity grew at a faster pace in June, as the current business conditions index climbed to 60.5 from 55.3 in May, the Institute for Supply Management-New York's Report on Business index, released Wednesday, 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 declined to 68.0 in June from 69.7 in May. The NY-BCI, a cumulative diffusion index, increased to 635.3 from 630.1.
The prices paid composite index grew to 58.7 from 58.6, the quantity of purchases composite index dipped to 56.3 from 58.9, employment rose to 51.0 from 50.3, the current month's revenues index improved to 66.7 from 58.7, and the expected level of revenues increased to 72.7 from 68.0.
