Missouri’s Purchasing Managers’ Index (PMI) for April was 67.4, an increase of 4.2 points according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.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 April PMI® for manufacturing registered 57.3, a decrease of 2.0 points from the March reading of 59.3 percent. Economic activity in the manufacturing sector stayed above 50 in the expansionary range for the 108th consecutive month according to the nation's supply executives in the latest Manufacturing ISM®, Report on Business®. New Orders (61.2) decreased by 0.7 points while Production (57.2) decreased by 3.8 points. Supplier Deliveries (61.1) increased by 0.5 points while Inventories (55.5) decreased 2.6 points from March. Employment (54.2) decreased by 3.1 points from the prior month.
According to the PMI® report, of the 18 manufacturing industries, 16 reported growth in April, in the following order: Wood Products; Electrical Equipment, Appliances & Components; Fabricated Metal Products; Transportation Equipment; Furniture & Related Products; Paper Products; Machinery; Primary Metals; Nonmetallic Mineral Products; Chemical Products; Computer & Electronic Products; Petroleum & Coal Products; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Printing & Related Support Activities; Miscellaneous Manufacturing; and Apparel, Leather & Allied Products.
The non-manufacturing survey index for April was 56.8, decreasing over the month by 2.0 points but still well in expansion territory. Business activity (59.1) decreased by 1.5 points while New Orders (59.5) increased by 0.5 points. Inventory (57.0) increased by 3.5 points in April. Supplier Deliveries (54.5) decreased by 4.0 points while Employment (53.6) decreased 3.0 points.
All 18 non-manufacturing industries reported growth in April, listed in order: Mining; Utilities; Retail Trade; Educational Services; Wholesale Trade; Construction; Transportation & Warehousing; Public Administration; Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Finance & Insurance; Other Services; Arts, Entertainment & Recreation; Management of Companies & Support Services; Professional, Scientific & Technical Services; Accommodation & Food Services; Information; and Health Care & Social Assistance.
Missouri’s April PMI increased 4.2 points over the month to 67.4—significantly above the 50.0 percent expansion threshold. Other states in the survey were Arkansas (59.6), Iowa (63.9), Kansas (66.5), Minnesota (63.6), Nebraska (67.0), North Dakota (49.8), Oklahoma (62.7) and South Dakota (69.3). Overall, the April Mid America Regional Index rose to 64.5 from the previous month’s score of 62.1 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.