New York City business activity grew at a faster pace in December, as the current business conditions index gained to 70.8,its highest level in four years, from 62.4 in November, the Institute for Supply Management-New York's Report on Business index, released Monday, 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 grew to of 72.9 in December from 70.5 in November. The NY-BCI, a cumulative diffusion index, increased to 673.8 from 663.4.
The prices paid composite index slid to 54.5 from 62.5, prices received composite index fell to 55.0 from 58.3, the quantity of purchases composite index held at 50.0, employment climbed to 56.8 from 48.4, the current month's revenues index soared to 69.0 from 53.1, and the expected level of revenues increased to 76.2 from 68.8.
