NEW YORK – New York City business activity contracted in November, the third contraction in four months, as the current business conditions index improved to 47.2 in November from 44.0 in October, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
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A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 71.0 from 54.9. The NY-BCI slipped to 533.5 from 534.9.
The prices paid composite index slid to 48.9 this month from 54.4 last month, the quantity of purchases composite index rose to 54.3 from 44.4, and the supplier delivery time diffusion index slipped to 52.4 from 53.3. Employment jumped to 52.1 from 37.8.
