New York City business activity expanded at a more moderate pace in September, as the current business conditions index slid to 53.6 from 60.5 in August, the Institute for Supply Management-New York's Report on Business index, released Wednesday, 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 slipped to 59.1 from 62.4. The NY-BCI increased to 594.1 from 592.3.

The prices paid composite index surged to 55.1 from 45.3, the quantity of purchases composite index fell to 46.3 from 54.8, employment dropped to 50.2 from 59.8, the current month's revenues index fell to 47.3 from 59.4, and the expected level of revenues decreased to 62.5 from 74.2.

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