NYC econ expands in Nov,outlook best in 3 yrs-NY ISM

NEW YORK, Nov 30 (Reuters) - Business activity in New York
City expanded in November for the fourth consecutive month,
while a gauge of business optimism was at its highest in more
than three years, according to an industry report on Monday.

The Institute for Supply Management-New York's seasonally
adjusted index of current business conditions rose to 62.9 in
November from 60.8 in October. The 50 level separates growth
from contraction.

Future optimism persisted, reinforcing the belief that
recovery could begin this year. ISM-New York's six-month
outlook index rose to 74.4 in November, its highest since
September 2006, from 68.9 in October.

Purchasing volume expanded in November after dipping into
contraction levels in September and October, with the quantity
of purchases index reaching 55.9, up from 46.7 in October.
Employment came in at 54.8, up from 45.7.

Cost pressures remained low. Overall, respondents to the
survey did not expect to reap gains from the government's
efforts to stimulate the economy. Around 73 percent said their
businesses would not, to their knowledge, benefit from the
American Recovery and Reinvestment Act.

The group's index of local business activity rose to 384.4
in November from 377.9 in October.
(Reporting by Emily Flitter, Editing by Chizu Nomiyama )
((emily.flitter@thomsonreuters.com; +1 646 223 6310; Reuters
Messaging: emily.flitter.reuters.com@reuters.net))