New York City business activity “continued to expand at a slower rate, settling close to a stall speed in the latest month,” as the current business conditions index fell to 50.4 in March from 53.6 in February, the Institute for Supply Management-New York’s Report on Business index, released Monday, 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 slid to 65.0 in March from 66.3 in February. The NY-BCI, a cumulative diffusion index, increased to 721.0 from 720.8.
The prices paid composite index fell to 44.7 from 54.2, the quantity of purchases composite index decreased to 57.1 from 58.0, employment declined to 40.9 from 49.3, the current month’s revenues index slipped to 55.3 from 56.3, and the expected level of revenues dropped to 57.5 from 58.3.
