New York City business activity "expanded at a solid rate," in December, as the current business conditions index grew to 62.0, from 60.7 in November, the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.
"Divergence has become a theme between perceptions of New York metro and some company-specific activities," the report states.
A reading above 50.0 indicates expansion. The employment index is published on a seasonally adjusted basis.
The report's six-month outlook index rose to 70.7 in December from 66.0 in November. The NY-BCI, a cumulative diffusion index, increased to 716.6 from 710.6.
The prices paid composite index fell to 55.0 from 62.5, prices received composite index remained at 50.0, the quantity of purchases composite index increased to 50.0 from 46.7, employment gained to 42.9 from 39.9, the current month's revenues index rose to 60.0 from 57.1, and the expected level of revenues dropped to 50.0 from 71.4.
