Missouri’s Purchasing Managers’ Index (PMI) for November was 55.1, an increase of 13.5 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 53.2 an increase of 1.3 points from the October reading of 51.9 percent. New Orders (53.0) increased by 0.9 points while Production (56.0) showed an increase of 1.4 points. Supplier Deliveries (55.7) increased by 3.5 points while Inventories (49.0) increased 1.5 points from October. Employment (52.3.) decreased by 0.6 points from the prior month. According to the PMI® report,11 out of 18 manufacturing industries grew in November: Miscellaneous Manufacturing; Petroleum & Coal Products; Paper Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Chemical Products; Fabricated Metal Products; Plastics & Rubber Products; Machinery; Nonmetallic Mineral Products; and Primary Metals.
The non-manufacturing survey index for November was 57.2, up 2.4 points over the month and still in expansion territory. Business Activity (61.7) increased by 4.0 points while New Orders (57.0) decreased by 0.7 points. Inventory (51.5) decreased by 0.5 points in November. Supplier Deliveries (52.0) increased slightly by 1.5 points while Employment (58.2) was up by 5.1 points. The 14 non-manufacturing industries reporting growth in November are: Agriculture, Forestry, Fishing & Hunting; Retail Trade; Arts, Entertainment & Recreation; Transportation & Warehousing; Other Services; Management of Companies & Support Services; Construction; Finance & Insurance; Professional, Scientific & Technical Services; Accommodation & Food Services; Information; Health Care & Social Assistance; Wholesale Trade; and Mining.
Missouri’s November PMI increased 13.5 points over the month to 55.1—this is above the 50.0 percent expansion threshold. Other states in the survey were Arkansas (47.7), Iowa (48.3), Kansas (44.4), Minnesota (46.5), Nebraska (45.0), North Dakota (47.6), Oklahoma (43.3) and South Dakota (50.2). Overall, the November Mid America Regional Index rose to 46.5 from the previous month’s score of 43.8 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.