New York City Business Outlook Falls in June to 10-Year Low

(Bloomberg) -- A measure of future business activity in the New York City area fell in June to a 10-year low, data released Tuesday show.

The Institute for Supply Management-New York’s six-month outlook index declined to 51 in June, the lowest since May 2009, from 56.3 in the prior month. The figures are volatile from month to month, declining as much as 21.5 points and advancing as much as 24.8 points this year.

A gauge of current conditions rose to 50, the dividing line between expansion and contraction, from a two-year low of 48.6.

While the index tracking employment edged up from a four-month low, remaining measures of current activity declined, with the quantity of purchases gauge at the lowest since July 2009.

The report primarily includes service-sector respondents and precedes the national ISM non-manufacturing survey, due Wednesday.

To contact the reporter on this story: Jordan Yadoo in Washington at jyadoo@bloomberg.net

To contact the editors responsible for this story: Kristy Scheuble at kmckeaney@bloomberg.net, Vince Golle, Jeff Kearns

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