New York, NY, United States (4E) – A measure of New York State business conditions showed expanding activity in December, according to the Institute of Supply Management (ISM) report released Friday.
The ISM-New York’s Current Business Conditions index dropped to 63.8 in December after expanding more than 10 points to 69.5 in the previous month, the highest since October of 2010. A reading above 50 indicates expansion while below that mark suggests contraction.
Purchasing managers in New York City were more positive about the future, with the ISM Six-Month Outlook Index in December jumping to 73.2. The gauge for expected revenue stood at 63.2.
The employment index rose to its highest in four months at 55.1 from 50.8, and the index for prices paid slightly changed to 60.0 from 59.5.
The ISM-NY, which releases its report one business day before the nationwide ISM nonmanufacturing report, gets its data mainly from nonmanufacturers. The national report is released on the third business day of every month.
For December, the result of the current indexes showed a mixed picture. The purchasing-volume index was steady at 50.0, and the index for current revenues eased to 60.0 in December after climbing to 65.8 in November from a 52.1 reading in October.