NEW YORK – New York City business activity improved at the fastest pace in five months, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.
The current business conditions index climbed to 65.6 in November from 64.7 in October.
A reading above 50.0 indicates expansion.
The report’s six-month outlook index increased to 71.9 from 69.8. The NY-BCI climbed to 485.7 from 477.9.
The prices paid composite index grew to 58.9 this month from 51.1 last month, the quantity of purchases composite index surged to 53.3 from 39.4, and the supplier delivery time diffusion index climbed to 52.2 from 50.0. Employment rebounded to 55.6 from 54.4.
In a special question, 74% of respondents said the Fed’s quantitative easing will not change their willingness to borrow in the next half year, while 13% said it would make them less willing to borrow and 11% said it would make them more willing to borrow.
