Missouri’s Purchasing Managers’ Index (PMI) for July was 49.4, 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 ISM national manufacturing index decreased in July to 52.7 from 53.5 in June. The national index is above the neutral threshold of 50 for 26 consecutive months. The index indicators that increased were Production (54), New Orders (56), and Supplier Deliveries (48.8). The index indicators that declined were Inventories (49.5), Employment (52.7), Imports (52), and New Export Orders (48). The ISM national non-manufacturing index increased in July to 60.3 from 56 the previous month. Index indicators that increased were New Orders (63.8), Business Activity (64.9), Inventories (57), Imports (50.5), Exports (56.5), Employment (59.6) and Backlogs (54). No index indicator decreased this month.
Missouri’s July PMI decreased to 49.4 from 50.1 the previous month. Other states in the survey were Arkansas (52.4), Iowa (51.8), Kansas (50), Minnesota (54.8), Nebraska (48.6), North Dakota (43.9), Oklahoma (48.6) and South Dakota (55.8). Overall, July’s Mid American Regional Index decreased to 50.6 from the previous month’s score of 53.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.