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Economy in Brief

New York State Expected Business Conditions Improve Sharply
by Tom Moeller  March 4, 2014

The Institute for Supply Management reported that expectations for business conditions in New York State improved last month to the highest level since October 2010. The diffusion index level rose to 76.3 from 70.0 in January. (A level above 50 indicates growth in activity. The reading of current economic conditions declined to 57.0, its weakest level in five months as heavy snow fell. 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 surged to 66.7, the highest level since May 2011. That caused the index of current revenues to jump to 72.5, up sharply versus 68.0 during February of last year.

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

ISM New York (Diffusion Index) Feb Jan Dec Feb'13 2013 2012 2011
Economic Conditions Six Months Hence (SA) 76.3 70.0 73.2 64.1 65.0 64.9 66.2
Current Economic Conditions (SA) 57.0 64.4 63.8 58.8 58.4 55.2 56.9
Prices Paid (NSA) 66.7 63.0 60.0 59.7 55.3 56.4 58.8
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