Missouri’s Purchasing Managers’ Index (PMI) for July was 59, 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 decreased in July to 59 from 59.3 the previous month. The national index has been above the neutral threshold of 50 for 14 consecutive months, even with the slight reduction. Index indicators that grew were Production (61.2), Employment (58.2), Supplier Deliveries (54.1), and New Orders (63.4). The index indicators that declined were New Export Orders (53), Inventories (48.5), and Imports (52). The ISM non-manufacturing index increased in July to 58.7 from 56 the previous month. The index indicators that grew were Employment (56), Business Activity (62.4), Imports (54.5), and New Orders (64.9). The index indicators that declined were Exports (53) and Inventories (51). The index indicator that was unchanged was Backlogs (53).
Missouri’s July PMI decreased to 59 from 59.3 the previous month. The index has also been above the neutral threshold of 50 for 19 consecutive months. Other states in the survey were Arkansas (53.1), Iowa (63), Kansas (57.2), Minnesota (66.4), Nebraska (55.5), North Dakota (57.3), Oklahoma (54.9) and South Dakota (61). Overall, July’s Mid American Regional Index decreased to 57 from the previous month’s score of 60.6. While the index is slightly lower from the previous month the index is still above 50, indicating 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.