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		New York NAPM: Economy Up In Jan For Fifth Straight Month Friday January 30, 9:21 am ET NEW YORK (Dow Jones)--Business conditions in the New York metro area improved in January for the fifth month in a row after nine straight months of decline, a report released Friday said. The NAPM New York business conditions index increased to 257.3 in January from 242.6 in December. The index was at 278.3 in March 2001, the last month of the 10-year expansion and had fallen to 246.2 in November 2001, the month that the National Bureau of Economic research states that the national recession bottomed out. "The improvement in the local economy has now been underway for five straight months, and advance that was modest in the beginning," noted Marc Goloven, regional economist at JP Morgan, who compiles the index. "But, unless the job market mirrors these gains, the average New Yorker may be unconvinced that the economy has turned a corner - and until then, today's recovery will remain incomplete." The current conditions index slipped to 79.4 in January from 80.7 in December, well above the critical threshold of 50 and far above the 49.0 reading of January 2003. A reading above 50 signals an improving economy, while a reading below 50 suggests deterioration. The two sectors were both strong, but moved in opposite directions, with manufacturing increasing to 87.6 from 82.3 in December. Meanwhile, nonmanufacturing slipped to 78.5 compared with 80.5 in December. The outlook/expectations index slipped to a reading of 88.9 after hitting 90.0 in December.   Back to Original Article: Mortgage News You Can Use   Continue with: New York city economy improved in January - report University of Chicago Economist Sees Warning Signs Economic Expansion Slows G7 positions on dollar ahead of Florida meeting U.S. Economy Grew at Slower-Than-Forecast 4 Percent Rate in Fourth Quarter Economy Grows at 4% Rate in Final Quarter of 2003 Economic Growth Report Pulls Down Dow 32 Treasuries Slip on Strong Chicago PMI Dollar Falls on Lower-Than-Expected GDP Fed, economists see improvement Hire expectations Dollar Firms, Buoyed by Economic Data Part One Dollar Firms, Buoyed by Economic Data Part Two Treasuries Up as Growth Falls Short Treasuries Up as Growth Falls Short part two
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