New York business index shows a lull

July 2, 2013 at 11:28 AM

NEW YORK, July 2 (UPI) -- Business activity in New York City slipped to a four-year low in June, the Institute of Supply Management said Tuesday.

A report from ISM-NY Inc. said the city's Index for Current Business Conditions for June came in at 47, the lowest level since May 2009.

While the index fell, "future optimism didn't flinch," the institute said, "suggesting the drop in current conditions could be temporary."

The survey's six-month outlook index came to 66.1, well above the break-even point of 50.

Furthermore, the index showing the number of employees improved slightly, climbing from 50 -- which is the balancing point between contraction and expansion -- to 50.8.

The revenue index for June hit 50, matching May's six-month low, the institute said. The expected demand index also hit 50 in June, dropping sharply from May's level of 64.7.

Related UPI Stories
Latest Headlines
Trending Stories
Ted Cruz campaign pulls ad featuring softcore porn actress
Report: Clinton Foundation subpoenaed by State Dept. watchdog over charity projects
Ruby Rose, Gigi Hadid react to Kanye West's lyric about Taylor Swift
Kristen Wiig impersonates Peyton Manning on 'The Tonight Show'
NYC police officer found guilty of manslaughter in Brooklyn stairway shooting