ISM NY: Current Business Conditions came in at 56.6 in August, down from 62.8 in July

"New York City purchasing managers reported decreased current business conditions while indicating a significant increase in employment and moderate improvement to the six-month outlook," the Institute for Supply Management-New York said on Tuesday.

Key quotes:

• Current Business Conditions came in at 56.6 in August, down from 62.8 in July, a seven-month high.
• The Six-Month Outlook increased to 60.5 in August, ending what had been four consecutive months of decreases. 
• Employment, a seasonally adjusted index, increased to 56.4 in August, significantly increasing from the ten-month low of 37.8 we saw in July.
• Quantity of Purchases decreased slightly to 51.6 in August.