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Economy in Brief

New York State Expected Business Conditions and Prices Improve
by Tom Moeller  January 3, 2014

The Institute for Supply Management reported that expectations for business conditions in New York State improved last month to the highest level since January 2011. The diffusion index level rose to 73.2 from 69.6 in November and made up declines to 59.1 in September. (A level above 50 indicates growth in activity.)

The reading of current economic conditions slackened to 63.8 from 69.5, but that remained up from the June low of 47.0. For all of last year the reading of current business conditions in New York rose to 58.4, its highest level since 2010. During the last ten years there has been a 61% correlation between the N.Y. index and the Q/Q change in real GDP. The prices paid index gained to 60.0, the highest level in nine months.

The ISM figures can be found in Haver's SURVEYS database.

ISM New York (Diffusion Index) Dec Nov Oct Dec'12 2013 2012 2011
Economic Conditions Six Months Hence (SA) 73.2 69.6 63.6 69.0 65.0 64.9 66.2
Current Economic Conditions (SA) 63.8 69.5 59.3 57.7 58.4 55.2 56.9
Prices Paid (NSA) 60.0 59.5 56.1 54.8 55.3 56.4 58.8
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