NEW YORK – New York City business activity expanded at its fastest pace in three months, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
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The current business conditions index jumped to 67.9 in May from 56.9 in April.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 73.6 from 65.6. The NY-BCI climbed to 534.0 from 525.1.
The prices paid composite index rose to 73.7 this month from 66.3 last month, the quantity of purchases composite index grew to 62.5 from 56.7, and the supplier delivery time diffusion index climbed to 55.1 from 50.0. Employment surged to 67.1 from 48.8.
