New York business activity falls in February vs March: ISM

NEW YORK (Reuters) - Business activity in New York City fell in March from February, the lowest level since August, but optimism futures rose, according to an industry report released Wednesday.

The index of the Institute for Supply Management (ISM by its acronym in English) in New York on current business conditions, seasonally adjusted, fell to 60.6 in March from a revision to 78.1 in February. The level of 50 separates growth from contraction.

However, optimism about the future grew and exceeded the level of 80 for the fourth consecutive month, reinforcing the belief that the economy improves. The index on the outlook six months rose to 88.2 in March from a revision to 80.1 in February.

Segments continued to expand employment and purchases. The employment rate marked 55.1 in March, its fifth consecutive monthly rise, from a revised 53.3 in February.

The index of the group on local business activity rose to 423.2 in March, its highest level since March 2008. The index was 417.9 in February.

(Reporting by Caroline Valetkevitch)