New York City business activity grew at a quicker pace in October, as the current business conditions index rose to 59.3 from 53.6 in September, the Institute for Supply Management-New York's Report on Business index, released Monday, 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 gained to 63.6 from 59.1. The NY-BCI, a cumulative diffusion index, increased to 598.7 from 594.1.
The prices paid composite index climbed to 56.1 from 55.1, the quantity of purchases composite index fell to 42.9 from 46.3, employment inched up to 50.3 from 50.2, the current month's revenues index grew to 52.1 from 47.3, and the expected level of revenues decreased to 60.4 from 62.5.