“New York City purchasing managers indicated they expect to close 2017 with increased business activity,” as the current business conditions index increased to 55.5 in June from 46.7 in June, 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 fell to 64.5 in June from 70.6 in May. The NY-BCI, a cumulative diffusion index, gained to 739.1 from 735.4.

The prices paid composite index rose to 60.3 from 50.0, the quantity of purchases composite index fell to 50.0 from 55.3, employment climbed to 49.0 from 40.3, the current month’s revenues index declined to 46.9 from 50.0, and the expected level of revenues fell to 60.0 from 66.7.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.