Missouri’s Purchasing Managers’ Index (PMI) for November was 59.2, an increase of 5.4 points according to the monthly Mid-America 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.
The November PMI® for manufacturing registered 58.2 a decrease of 0.5 points from the October reading of 58.7 percent. Economic activity in the manufacturing sector stayed above 50 in the expansionary range for the 102nd consecutive month according to the nation's supply executives in the latest Manufacturing ISM®, Report on Business®. New Orders (64.0) increased by 0.6 points while Production (63.9) increased by 2.9 points. Supplier Deliveries (56.5) decreased by 4.9 points while Inventories (47.0) decreased 1.0 points from October. Employment (59.7) decreased by 0.1 points from the prior month. According to the PMI® report, of the 18 manufacturing industries 14 reported growth in November in the following order: Paper Products; Machinery; Transportation Equipment; Computer & Electronic Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Chemical Products; Furniture & Related Products; Fabricated Metal Products; Miscellaneous Manufacturing; and Primary Metals.
The non-manufacturing survey index for November was 57.4, decreasing over the month by 2.7 points but still in expansion territory. Business activity (61.4) decreased by 0.8 points while New Orders (58.7) decreased by 4.1 points. Inventory (54.5) increased by 2.0 points in November. Supplier Deliveries (54.0) decreased by 4.0 points while Employment (55.3) decreased 2.2 points. The 16 industries reporting growth in November— listed in order — are Retail Trade; Wholesale Trade; Utilities; Transportation & Warehousing; Real Estate, Rental & Leasing; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Other Services; Public Administration; Information; Finance & Insurance; Construction; Management of Companies & Support Services; Accommodation & Food Services; and Professional, Scientific & Technical Services.
Missouri’s November PMI increased 5.4 points over the month to 59.2— and still well above the 50.0 percent expansion threshold. Other states in the survey were Arkansas (51.9), Iowa (55.2), Kansas (58.0), Minnesota (57.8), Nebraska (54.8), North Dakota (52.3), Oklahoma (60.8) and South Dakota (55.4). Overall, the November Mid America Regional Index decreased to 57.2 from the previous month’s score of 58.8 percent. This is the 12th straight month the Mid America Regional Index has remained above growth neutral, continuing to point to growth for the region over the next three to six months.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.