New York City businesses in November suffered their worst month since April 2003, contracting for the 10th time in the past 11 months, according to the National Association of Purchasing Management-New York’s Report on Business.

The current business conditions index sank to 33.3 in November from 35.6 in October, the NAPM-NY reported Wednesday.

The report’s six-month outlook index slumped to a record low 29.7 from 51.6 in October. The NY-BCI slipped to 388.4 from 396.8.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.