Missouri Business Condition Index increases
Missouri’s Purchasing Managers’ Index (PMI) for April was 50.1, an increase of 0.2 points according to the monthly Mid-American 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 for the next three to six months.
The April PMI® for manufacturing registered 51.8, a decrease of 1.0 point from the March reading of 51.8 percent. New Orders (55.8) decreased by 2.5 points while Production (54.2) also saw a decrease of 1.1 points. Supplier Deliveries (49.1) decreased also by 1.1 points while Inventories (45.5) slipped 1.5 points from March. While the decreases show a slowing rate of change most of the numbers are still over the expansion threshold of 50. Employment (49.2) grew by 1.1 points from the prior month. According to the PMI report, 11 out of 18 manufacturing industries grew in April led by the sectors of Wood Products, Printing & Related Support Activities, Paper Products;, Plastic & Rubber Products, Primary Metals, Chemical Products, Machinery, Computer & electronic Products, and Nonmetallic Mineral Products.
The non-manufacturing survey index for April was 55.7, up 1.2 points over the month and still in expansion territory. Business activity (58.8) lost 1.0 point while New Orders (59.9) grew by 3.2 points. Inventory (54.0) grew 1.0 points from March. Supplier Deliveries (51.0) remained steady while Employment (53.0) increased by 2.7 points.
Missouri’s April PMI increased by 0.2 points over the month to 50.1. Other states in the survey were Arkansas (49.5), Iowa (50.1), Kansas (48.9), Minnesota (49.8), Nebraska (50.2), North Dakota (50.0), Oklahoma (49.4) and South Dakota (51.6). Overall, April’s Mid American Regional Index decreased to 50.0 from the previous month’s score of 50.6.