New York, NY, October 31, 2006--New York City companies reported better business conditions in October, although the outlook weakened for a third month in a row, according to an industry report on Tuesday.
The National Association of Purchasing Management-New York's index of local business activity climbed to 425.3 in October from 421.0 in September. The index has been rising since November.
The survey's outlook gauge slipped to 62.5 in October, its lowest level since April, from 75.0 in September.
The report's seasonally adjusted measure on current business conditions was little changed to 58.6 in October versus 58.5 in September.
For the two components, a reading above 50 means more than half of the companies reported or expected better business conditions.
