Missouri’s Purchasing Managers’ Index (PMI) for March was 53.8, 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 for March increased to 53.7 from 53.2 the previous month. The national index has been above the neutral threshold of 50 for 10 consecutive months. Index indicators that grew were Imports (54.5), New Export Orders (55.5), New Orders (55.1), and Production (55.9). Index indicators that declined were Supplier Deliveries (54) and Employment (51.1). The index indicator that saw no change was Inventories (52.5). The ISM non-manufacturing index increased in March to 53.1 from 51.6 the previous month. The index indicators that grew were Backlogs (52), Employment (53.6), Exports (49.5), Imports (50.5), and New Orders (53.4). Index indicators that declined were Business Activity (53.4) and Inventories (50.5).
Missouri’s March PMI increased to 53.8 from 53.6 the previous month. The index has been above the neutral threshold of 50 for 15 consecutive months. Other states in the survey were Arkansas (62.6), Iowa (67.2), Kansas (54.6), Minnesota (66.1), Nebraska (54.8), North Dakota (60.3), Oklahoma (59.5) and South Dakota (63.8). Overall, March’s Mid American Regional Index increased to 58.2 from the previous month’s score of 57.4. The increase of the PMI suggests that economic growth is growing over the near term.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.