New York Business Activity Shows Largest Contraction in Three Years
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Data earlier Monday showed that New York City business activity fell sharply in May, with the ISM index dropping to 49.9 in May from 61.2 in April. The drop was the largest in 3 years. Readings below 50 are consistent with contraction.
When survey participants were asked what their organization's profit outlooks were for the rest of the year, 63 percent said not as upbeat as May.
This report and the weak Factory Orders reports are contributing to market weakness Monday.
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When survey participants were asked what their organization's profit outlooks were for the rest of the year, 63 percent said not as upbeat as May.
This report and the weak Factory Orders reports are contributing to market weakness Monday.
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