Business activity in New York City fell for a 13th consecutive month in February, according to an industry report released on Friday. The National Association of Purchasing Management-New York's seasonally adjusted index of current business conditions fell to 29.6 in February from 38.4 in January. The 50 mark separates growth from contraction. The employment index fell to 21.9 from 22.2 in January. The prices paid index edged up to 35.9 from 35.7 in January. The index for the six-month outlook plummeted to 31.8 from 54.2 in January. The report also asked whether firms' 2009 capital spending plans were higher, steady or lower than 2008. The report said 71 percent planned lower capital spending, versus 22 percent in 2008. Only 6 percent said they were higher, versus 28 percent in 2008. "An overwhelming majority of firms is planning lower capital spending this year," the report said. "The 2009 results are substantially weaker than those for 2008."

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