Good news for Missouri manufacturing sector
From the Missouri Times:
JEFFERSON CITY, Mo. – The Missouri Department of Economic Development released a few new economic indicators Monday, which told of some good news for the state’s manufacturing industry.
The state’s purchasing manager’s index (PMI) spiked to 57 in May, its highest mark since August 2014, according to the Institute for Supply Management
PMI measures the economic health of the manufacturing sector using a combination of factors like new orders, production, supplier delivery times, backlogs, inventories, prices, employment, import orders and export, and any figure over 50 represents an expansion in the manufacturing sector from the previous marking. Missouri spiked 6.9 points from April, and it was at its lowest point in the last two years in December of 2014, when it sank all the way to 40.
The score had slumped steadily for two years before it hit that rock bottom number. However, just five months later, it looks well on the way to recovery.
The article also contains comparisons of the cost of living that are favorable to Missouri.