The New York economy slipped in November, with current conditions falling to its lowest level since June, the Institute for Supply Management-New York’s Report on Business index, released Wednesday, indicated.
The current business conditions index fell to 67.8 in November from 69.8 in October.
A reading above 50.0 indicates a faster pace of activity, a reading below means slower activity, while a 50.0 reading means no change from the previous month. The employment index is published on a seasonally adjusted basis.
The report’s six-month outlook index grew to 73.4 in November from 70.9 in October. The NY-BCI, a cumulative diffusion index, increased to 840.8 from 831.9.
The prices paid composite index climbed to 71.9 from 67.6.
The quantity of purchases composite index slumped to 59.4 from 70.6, and employment dropped to 72.7 from 82.1. The current month’s revenues index declined to 65.6 from 72.2, and the expected level of revenues slid to 78.1 from 80.6.
