ISM-New York Business Conditions Index at Nine-Month Low

The ISM-New York current business conditions index decreased by 15.7 points to a nine-month low of 35.5 in February, according to the ISM-New York Monthly Report on Business.

This reading showed a decline from the January level of 51.2, a level that represented a loss of 10.1 points.

The Six-Month Outlook declined for the second month in a row, falling by 1.8 points to 51.5, its lowest level in three months

The seasonally adjusted employment index plunged by 19.5 points from 60.6 in January to 41.1 last month, accounting for the biggest share of the business conditions decline.

The Quantity of Purchases index continued to fall from an eight-month low of 35.7 in January to a nine-month low of 35.3 in February.

The data is based on a survey of purchasing managers in New York City, who reported significant drops in current business conditions and employment this month, according to the survey taken by ISM-New York, an affiliate of the Institute for Supply Management (ISM).