Missouri's Purchasing Managers' Index (PMI) increased in April to 60.2, 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 national PMI for manufacturing industries increased in April to 54.8. This was the fifth increase in the past six months. Sub-indices that grew in April included Production (58.3), New Orders (58.2), Supplier Deliveries (49.2), and Employment (57.3). Inventories declined to 48.5. The ISM nonmanufacturing index fell from 56.0 to 53.5. The growing sub-indices included Supplier Deliveries (51.5) and Export Orders (58.0). Business Activity (54.6), New Orders (53.5), and Employment (54.2) fell while Inventories remained unchanged at 54.0.
Missouri's April PMI increased from 58.3 to 60.2. Components of Missouri's Business Conditions Index were Production (60.9), New Orders (64.3), Inventories (59.2), Employment (60.8) and Delivery Lead Time (55.9). Overall, the April average for the Mid-America Region increased to 60.0 from the March score of 58.6.
Note: The national purchasing manager's indices are produced by
the Institute for Supply Management, formerly the Purchasing
Management Association.
