New York City business activity grew at a quicker pace in January, as the current business conditions index grew to 64.4 from 63.8 in December, the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.
It had been three years since the current business index spent three months above a 60.0 reading.
A reading above 50.0 indicates expansion. The employment index is published on a seasonally adjusted basis.
The report's six-month outlook index slipped to 70.0 from 73.2. The NY-BCI, a cumulative diffusion index, increased to 622.6 from 615.4.
The prices paid composite index climbed to 63.0 from 60.0, the quantity of purchases composite index rose to 53.8 from 50.0, employment grew to 60.7 from 55.1, the current month's revenues index increased to 63.5 from 60.0, and the expected level of revenues jumped to 71.7 from 63.2.
