"New York City purchasing managers shared a surge of forward looking optimism to end 2016," as the current business conditions index increased to 63.8 in December from 52.5 in November, the Institute for Supply Management-New York's Report on Business index, released Wednesday, indicated.
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 74.2 in December from 60.8 in November. The NY-BCI, a cumulative diffusion index, gained to 727.4 from 720.5.
The prices paid composite index declined to 57.5 from 69.2, the quantity of purchases composite index climbed to 58.0 from 56.0, employment fell to 42.0 from 52.3, the current month's revenues index gained to 55.0 from 52.1, and the expected level of revenues grew to 67.5 from 66.7.
