Missouri Purchasing Managers Index
Tops Region in January
Missouri's Purchasing Managers Index topped the nine state Mid-America Region and outpaced the nation's rate by more than nine points in January, providing continued evidence of strength in the state's manufacturing sector and overall economic condition. January's score of 65.6 is considerably higher than the national average of 56.4 and the regional average of 60.7.
Missouri's strong overall score was the result of high scores in production (74.6), new orders (69.0), inventories (62.9) and employment (61.6).
The state's PMI score has now been above the important 50-mark for three consecutive years and has been above 60 for the past year. A score of 50 generally indicates an expansionary economy, while a score below 50 forecasts a sluggish economy for the next three to six months.
Economists consider the Purchasing Managers Index, which measures such factors as new orders, production, supplier delivery times, backlogs, inventories, prices, employment, import orders and exports, a key indicator of economic conditions.
State scores in the Mid-America Region for January were: Missouri 65.6, South Dakota 62.5, Minnesota 61.5, Nebraska 58.8, North Dakota 55.8, Arkansas 54.9, Kansas 54.3, Iowa 53.6 and Oklahoma 50.0.
The Purchasing Managers' Index is part of a monthly Mid-American Business Conditions Survey, conducted by Creighton University in Omaha, NE.
Read the full report. February 2005
