NYC business activity drops in Aug vs July: NY ISM

NEW YORK (Reuters) - Business activity in New York City fell in August to its lowest level in a year, according to an industry survey released on Tuesday.

The Institute for Supply Management-New York said its seasonally adjusted index of current business conditions declined to 55.6 in August from a revised 59.4 in July.

The 50 level separates growth from contraction.

Future optimism and job growth eased as well, underscoring signs that the economic recovery is falling back.

The six-month outlook index reached a 14-month low, falling to 58.4 in August from a revised 69.6 in July.

The group's index of job growth shifted into neutral. The employment index hit a 10-month low of 50.0 in August from a revised 51.5 in July.

(Reporting by Edith Honan; Editing by Leslie Adler)