Missouri's Purchasing Managers' Index (PMI) for April was 52.8, 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 decreased in April to 50.7 from 51.3 the previous month. While lower, this puts the index above the neutral threshold of 50 for the seventh time in eight months. New Orders (52.3), Supplier Deliveries (50.5), Imports (55.0) and Production (53.5) increased while Employment (50.2), New Export Orders (54.0) and Inventories (46.5) declined. The ISM non-manufacturing index declined slightly this month, to 53.1 from 54.4 the previous month. The sectors in the index that experienced growth were Inventories (56.0) and Imports (58.5). The sectors that experienced reductions were Employment (52.0), New Orders (54.5), Business Activity (55.0), Exports (53.5), and Backlogs (51.5).
Missouri's April PMI lowered to 52.8 from 54.9 in March. Other states in the survey include Arkansas (56.9), Iowa (69.1), Kansas (52.3), Minnesota (55.7), Nebraska (55.6), North Dakota (57.9), Oklahoma (59.8) and South Dakota (59.4). Overall the April average for the Mid-America Region slightly decreased to 56.8 from March's score of 58.2. The April PMI numbers illustrate that while manufacturing growth has seen slight reductions, overall the trend of growth in the manufacturing sector in first quarter 2013 may continue throughout the year.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.