NEW YORK – New York City business activity expanded in January, at its fastest rate in eight months, as the current business conditions index improved to 60.1 in January from a revised 51.7 in December, the Institute for Supply Management-New York’s Report on Business index indicated.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 64.5 from a revised 62.5. The NY-BCI crept to 536.5 from a revised 531.5.
The prices paid composite index grew to 58.1 this month from 55.4 last month, the quantity of purchases composite index rose to 50.0 from 48.3, and the supplier delivery time diffusion index dipped to 53.1 from 54.0. Employment slumped to 45.8 from 46.6.