N.Y. Pur­chas­ing Man­agers’ In­dex Ends 2017 on Rise

The Bond Buyer - - Market News - — Gary E. Siegel

The New York econ­omy ended 2017 with a level bet­ter than the av­er­age for the year, and the fu­ture ex­pec­ta­tions soared to lev­els not seen in more than a decade, the In­sti­tute for Sup­ply Man­age­ment-New York’s Re­port on Busi­ness in­dex, re­leased Wed­nes­day, in­di­cated.

The cur­rent busi­ness con­di­tions in­dex de­creased to 56.3 from 58.1 in Novem­ber.

A read­ing above 50.0 in­di­cates ex­pan­sion. The re­port’s six-month out­look in­dex surged to 85.7 in De­cem­ber from 69.7 in Novem­ber. This read­ing was the high­est since the out­look reg­is­tered 89.7 in July 2006, ISM-NY said.

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