New York City business activity expanded in December as the current business conditions index increased to 54.3 from 52.5 in November, the Institute for Supply Management-New York's Report on Business index, released Thursday, indicated.
A reading above 50.0 indicates expansion.
The report's six-month outlook index slipped to 67.6 from 75.3. The NY-BCI increased to 563.2 from 561.1.
The prices paid composite index inched up to 54.8 from 54.7, the quantity of purchases composite index gained to 62.5 from 61.7, employment slid to 47.6 from 51.6, the current month's revenues index jumped to 55.3 from 45.8, and the expected level of revenues gained to 72.5 from 69.6.
Even almost two months later Hurricane Sandy remained a hindrance to businesses, as 26% of respondents reported "weather/natural disasters," with "skilled labor shortage" and "no difficulties" both garnering 30%.
