Missouri’s Purchasing Managers’ Index (PMI) for June was 54.0, a decrease of 3.0 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 June PMI® for manufacturing registered 53.2, an increase of 1.9 points from the May reading of 51.3 percent. New Orders (54.7) increased by 1.3 points while Production (54.7) increased 2.1 points. Supplier Deliveries (55.4) increased by 1.3 points while Inventories (48.5) increased 3.5 points from May. Employment (50.4) increased by 1.2 points from the prior month. According to the PMI report, 13 out of 18 manufacturing industries grew in June: Printing & Related Support Activities, Textile Mills, Petroleum and Coal Products, Food, Beverage & Tobacco Products, Fabricated Metals, Apparel, Leather & Allied Products, Paper Products, Miscellaneous Manufacturing, Computer & Electronic Products, Chemical Products, Primary Metals, Machinery and Nonmetallic Mineral Products.
The non-manufacturing survey index for June was 56.5, up 3.6 points over the month and still in expansion territory. Business activity (59.5) increased by 4.4 points while New Orders (59.9) increased by 5.7 points. Inventory (55.5) increased by 1.5 in June. Supplier Deliveries (54) grew by 1.5 points while Employment (52.7) grew by 3.0 points.
Missouri’s June PMI decreased 3.0 points over the month to 54.0. This is well above the expansion threshold of 50.0. Other states in the survey were Arkansas (48.5), Iowa (50.3), Kansas (48.4), Minnesota (51.6), Nebraska (51.5), North Dakota (41.3), Oklahoma (48.1) and South Dakota (51.1). Overall, June’s Mid America Regional Index decreased to 50.1 from the previous month’s score of 52.1.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.