facebook
twitter
rss
account
search
search
 

NYC: Business slows, 6-month outlook dims

Sept. 5, 2012 at 12:28 PM   |   Comments

NEW YORK, Sept. 5 (UPI) -- Business activity slowed and optimism about the next six months dimmed in August for New York City businesses, the Institute of Supply Management said.

Wednesday's ISM-NY Inc. report said the city's Index for Current Business Conditions dropped from 55.2 percent in July to 51.4 percent in August.

The six-month outlook for businesses dropped from 61.7 percent to 61.3 percent in August.

The report said "purchase volume contracted, but not employment," meaning business slowed but employers have not reacted by reducing payrolls.

"Quantity of Purchases, 47.5 percent in August, contracted back-to-back for the first time in a year," while the Employment Index reached 55 percent, a 15-month high, the report said.

Figures below 50 indicate a contraction, while higher numbers indicate growth.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Hershey's new logo launched, compared to emoji poop
2
The 'Home of the Whopper' to keep headquarters in U.S.
3
Canadian media must broadcast official emergency notifications
4
France receives upgraded aerial tanker
5
Kurds raise oil funds for refugees
Trending News
Video
x
Feedback