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New York city economy improved in January - report
NEW YORK, Jan 30 (Reuters) - Business conditions in New York City improved for a fifth straight month in January, boosted by a pick-up in the tourism and banking industries, a report published on Friday showed. Even the city's troubled labor market showed glimmers of improvement, with fewer layoffs in technology and telecommunications, the National Association of Purchasing Management-New York said. The industry group's index of economic activity in the Big Apple climbed to 257.3 in January from 242.6 in December. "The warming of the economy in January was broadly based, and was widely distributed across the industry spectrum," NY-NAPM said in a statement. The survey's manufacturing component rose to 87.6 from 82.3. The services gauge edged lower to 78.5, but that was after a big jump to 80.5 in December. The outlook index slipped a bit, to 88.9 in January from 90.0 in December.
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