Missouri's Purchasing Managers' Index (PMI) increased in January to 51.0, according to the monthly Mid-American Business Conditions Survey, conducted by Creighton University, Omaha, NE.
Economists consider the index, which measures such factors as new orders, production, supplier delivery times, backlogs, inventories, prices, employment, import orders and exports, a key economic indicator. Typically, a score greater than 50 indicates an expansionary economy, while a score below 50 forecasts a sluggish economy for the next three to six months.
The national PMI for manufacturing industries increased in January to 54.1, from the revised December score of 53.1, which is the third straight month of growth and continues improvement from a two year low. Growing sub-indices included New Orders (57.6), Inventories (49.5), and Supplier Deliveries (53.6). Production (55.7) and Employment (54.3) declined. The ISM nonmanufacturing index increased 4.2 points in January to 56.8 returning it to levels not seen since the first quarter of 2011. The growing sub-indices include Business Activity (59.5), New Orders (59.4), and Employment (57.4). Supplier Deliveries (51.0) dropped half of one point.
Missouri's January PMI increased from 49.0 to 51.0. Production (50.8), New Orders (50.3), Inventories (49.6) and Employment (49.4) gained while Delivery Lead Time (55.0) declined. Other states in the survey include Arkansas (56.0), Iowa (66.0), Kansas (50.1), Minnesota (57.5), Nebraska (51.9), North Dakota (60.3), Oklahoma (58.3) and South Dakota (52.8). Overall, the January average for the Mid-America Region increased to 55.9 from the December score of 50.0.
Note: The national purchasing manager's indices are produced by
the Institute for Supply Management, formerly the Purchasing
Management Association.
