NEW YORK – New York City business activity “is emerging,” as the Institute for Supply Management-New York’s Report on Business current business conditions index has shown expansion for three straight months, the group reported this morning.
The current business conditions index fell to 60.8 in October from 72.9 in September, the ISM-NY announced today. A reading above 50.0 indicates expansion.
The report’s six-month outlook index decreased to 68.9 from 69.5. The NY-BCI climbed to 377.9 from 372.5.
The prices paid composite index slipped to 39.4 this month from 41.9 last month, the quantity of purchases composite index rose to 46.7 from 46.1, and the supplier delivery time diffusion index fell to 50.0 from 52.8. Employment dropped to 45.7 from 47.3.
When asked what was the biggest impediment to growing their business, 28% of respondents said “working capital shortage,” down from 32% last month, with “no difficulties” and “other” concerns each reported by 23% of respondents.
