New York City business activity expanded moderately in May, as the current business conditions index decreased to 54.4 from 58.3 in April, the Institute for Supply Management-New York's Report on Business index, released Tuesday, 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 climbed to 67.0 from 64.0. The NY-BCI increased to 579.6 from 577.4.
The prices paid composite index rose to 54.5 from 51.6, the quantity of purchases composite index fell to 45.5 from 59.4, employment slid to 49.4 from 53.3, the current month's revenues index dropped to 50.0 from 51.7, and the expected level of revenues increased to 64.7 from 62.9.
