Big Apple business activity expands

NEW YORK, Jan. 3 (UPI) -- A barometer of New York City business activity reached a five-month high in December, the Institute for Supply Management said Thursday.

The headline index measuring current business conditions came in at 54.3 in the month, up from 52.5 in November. The six-month outlook index dropped however, from 75.3 to 67.6, a correction after a post-Hurricane Sandy surge, the report said.

The index for the number of employees dropped from 51.6 to 47.6, an 11-month low, while the revenues index rose from 45.8 to 55.3.

The indexes indicate growth with numbers above 50 and contraction with numbers below 50.