NEW YORK – New York City business activity expanded again in January, its sixth straight month of expansion, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
“Business activity started o ff 2010 strongly,” the report said. “The Current Business Conditions index jumped to 72.6 in January, the highest level since November 2006, from a revised 6 4.5 in December.”
The December current business conditions index was originally reported as 59.7, but the ISM-NY did its annual benchmark revisions and recalculated seasonal adjustment factors.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 97.0 from a revised 81.4, originally reported as 80.2. The NY-BCI climbed to 403.9 from a revised 392.6, originally reported as 389.2.
The prices paid composite index gained to 38.5 this month from 35.1 last month, the quantity of purchases composite index rose to 53.1 from 50.0, and the supplier delivery time diffusion index slid to 49.0 from 54.1. Employment dropped to 54.2 from 56.8.
When asked what was the biggest impediment to growing their business, 29% of respondents said “no difficulties,” while “working capital shortage,” fell to 21% from 22% last month, its fifth straight monthly decline.
