Missouri’s Purchasing Managers’ Index (PMI) for August was 59.2, 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 increased in August to 59 from 57.1 the previous month. The national index is above the neutral threshold of 50 for 15 consecutive months. Index indicators that increased were Production (64.5), Inventories (52), Imports (56), New Export Orders (55) and New Orders (66.7). The index indicators that declined were Employment (58.1) and Supplier Deliveries (53.9). The ISM non-manufacturing index increased in August to 59.6 from 58.7 the previous month. The index indicators that grew were Employment (57.1), Business Activity (65), and Backlogs (54.5). The index indicators that declined were Exports (52.5), New Orders (63.8) and Imports (51). The index indicator that was unchanged was Inventories (51).
Missouri’s August PMI increased to 59.2 from 59 the previous month. The index has been above the neutral threshold of 50 for 20 consecutive months. Other states in the survey were Arkansas (45.6), Iowa (58.3), Kansas (63.8), Minnesota (66.9), Nebraska (54.8), North Dakota (60.7), Oklahoma (54) and South Dakota (58.5). Overall, August’s Mid American Regional Index increased to 57.2 from the previous month’s score of 57. The slight increase of the index, and that the index has been above 50 for 20 consecutive months, shows that the economy is still expanding.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.