New York City business activity grew at its slowest pace in six months in October, as the current business conditions index dropped to 54.8 from 63.7 in September, 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 grew to an eight-month high of 71.8 in October from 71.4 in September. The NY-BCI, a cumulative diffusion index, increased to 657.2 from 654.8.
The prices paid composite index grew to 63.3 from 52.5, prices received composite index gained to 53.3 from 52.5, the quantity of purchases composite index slid to 53.1 from 60.5, employment soared to 64.4 from 57.0, the current month's revenues index increased to 71.9 from 67.5, and the expected level of revenues climbed to 78.1 from 76.3.
