Missouri’s Purchasing Managers’ Index (PMI) for September was 57.7, 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 ISM national manufacturing index dropped in September to 56.6 from 59 the previous month. The national index is above the neutral threshold of 50 for 16 consecutive months. The index indicator that increased was Production (64.6). The index indicators that declined were Employment (54.6), New Orders (60), Inventories (51.5), Imports (53), New Export Orders (53.5) and Supplier Deliveries (52.2). The ISM non-manufacturing index decreased in September to 58.6 from 59.6 the previous month. The index indicators that grew were Employment (58.5), Imports (52.5), Exports (57.5), and Inventories (52). The index indicators that declined were Business Activity (62.9), New Orders (61), and Backlogs (52).
Missouri’s September PMI declined to 57.7 from 59.2 the previous month. The index has been above the neutral threshold of 50 for 21 consecutive months. Other states in the survey were Arkansas (47), Iowa (51.5), Kansas (69.7), Minnesota (66.3), Nebraska (51.8), North Dakota (61.8), Oklahoma (58) and South Dakota (55). Overall, September’s Mid American Regional Index declined to 54.3 from the previous month’s score of 57.2. The decline of the index may show concerns about the economy in the short term, but the index has been above 50 for 20 consecutive months which shows the economy is still growing.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.