“New York City purchasing managers reported current business conditions, employment, and quantity of purchases are in contraction, while the six-month outlook fell but remained in growth territory,” as the current business conditions index decreased to 49.7 in September from 56.6 in August, 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 fell to 58.4 in September from 60.5 in August. The NY-BCI, a cumulative diffusion index, dipped to 748.6 from 748.8.
The prices paid composite index rose to 52.3 from 50.0, the quantity of purchases composite index declined to 48.1 from 51.6, employment slumped to 48.3 from 56.4, the current month’s revenues index gained to 50.0 from 48.4, and the expected level of revenues dropped to 52.0 from 68.8.
