New York PMI positive for November

NEW YORK, Dec. 4 (UPI) -- Business activity in New York City rebounded in November after taking a punch from Hurricane Sandy, the Institute of Supply Management said Tuesday.

The current Purchasing Managers Index came in at 525 in November, a number that shows business growth, as it is higher than the break-even point of 50.

In addition, optimism for business conditions over the next six months came to 75.3, posting "one of the largest one-month gains on record," the monthly report said.

The city's employment index showed growth at 51.6. The prices paid index came in at 54.7, sliding off of a six-month high.

Revenues remained in contraction. But 45.8 mark for revenues is expected to be temporary, as the Expected Demand index came in at 69.6.