Missouri’s Purchasing Managers’ Index (PMI) for January was 56.1, 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 decreased in January to 53.5 from 55.5 the previous month. The national index has been above the neutral threshold of 50 for 20 consecutive months. The index indicators that increased were Inventories (51) and Imports (55.5). The index indicators that declined were Production (56.5), Employment (54.1), New Orders (52.9), Supplier Deliveries (52.9), and New Export Orders (49.5). The ISM national non-manufacturing index increased in January to 56.7 from 56.2 the previous month. Index indicators that increased this month were Business Activity (61.5), Inventories (52.5), and New Orders (59.5). The index indicators that decreased were Exports (52.5), Backlogs (49), Imports (46.5), and Employment (51.6).
Missouri’s January PMI increased to 56.1 from 55.7 the previous month. The index has been above the neutral threshold of 50 for 25 consecutive months. Other states in the survey were Arkansas (52.5), Iowa (52.2), Kansas (53.8), Minnesota (60.1), Nebraska (53.7), North Dakota (53), Oklahoma (52) and South Dakota (61.2). Overall, January’s Mid-American Regional Index increased to 54.8 from the previous month’s score of 54.4.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.