The New York economy is expanding with “across the board increases,” and employment at its best level in more than two years, the Institute for Supply Management-New York’s Report on Business index, released Monday, indicated.
The current business conditions index increased to 58.1 in November from 51.6 in October.
A reading above 50.0 indicates expansion. The employment index is published on a seasonally adjusted basis.
The report’s six-month outlook index rose to 69.7 in November from 62.6 in October. This was the first time since last December that this component rose in two consecutive months. The NY-BCI, a cumulative diffusion index, climbed to 753.5 from 749.4.
The prices paid composite index rose to 62.5 from 60.0, the quantity of purchases composite index gained to 56.3 from 45.0, employment soared to 64.6 from 54.8, the current month’s revenues index grew to 64.3 from 45.5, and the expected level of revenues jumped to 71.4 from 63.6.