New York City business activity "shifted into neutral" in March, as the current business conditions index declined to 50.0, from 63.1 in February, the Institute for Supply Management-New York's Report on Business index, released Thursday, 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 69.4 in March from 71.7 in February. The NY-BCI, a cumulative diffusion index, remained at 677.6.
The prices paid composite index fell to 54.2 from 61.4, prices received composite index grew to 52.2 from 50.0, the quantity of purchases composite index held at 54.8, employment increased to 53.7 from 49.3, the current month's revenues index fell to 50.0 from 63.2, and the expected level of revenues decreased to 58.7 from 76.3.
