N.Y. Business Index Falls For Third Straight Month
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.