Missouri’s Purchasing Managers’ Index (PMI) for February was 53.6, 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 February increased to 53.2 from 51.3 the previous month. The national index has been above the neutral threshold of 50 for nine consecutive months. Index indicators that grew were Supplier Deliveries (58.5), New Orders (54.5) and Inventories (52.5). Index indicators that declined were Production (48.2) and New Export Orders (53.5). Index indicators that saw no change were Employment (52.3) and Imports (53.5). The ISM non-manufacturing index decreased in February to 51.6 from 54 the previous month. The index indicators that grew were New Orders (51.3) and Backlogs (52). Index indicators that declined were Business Activity (54.6), Employment (47.5), Exports (47.5) and Imports (47). The index indicator that saw no change was Inventories (50.5).
Missouri’s February PMI increased to 53.6 from 53.2 the previous month. The index has been above the neutral threshold of 50 for 14 consecutive months. Other states in the survey were Arkansas (55.1), Iowa (64.5), Kansas (55.1), Minnesota (64.1), Nebraska (53.9), North Dakota (57.6), Oklahoma (58.9) and South Dakota (60.9). Overall, February’s Mid American Regional Index decreased to 57.4 from the previous month’s score of 57.7. The decrease of the PMI may suggest that growth may be slowing, but the index is still above 50 showing that growth is still occurring in the economy.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.