Missouri’s Purchasing Managers’ Index (PMI) for November was 54.7, an increase of 2.2 points, and still well in expansion territory, 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 November PMI® for manufacturing registered 59.3, increasing 1.6 points from the October reading of 57.7 percent. Economic activity in the manufacturing sector stayed above 50 in the expansionary range for the 115th consecutive month according to the nation's supply executives in the latest Manufacturing ISM®, Report on Business®. New Orders (62.1) increased by 4.7 points while Production (60.6) increased by 0.7 points. Supplier Deliveries (62.5) decreased by 1.3 points while Inventories (52.9) increased 2.2 points from October. Employment (58.4) increased by 1.6 points from the prior month.
Of the 18 manufacturing industries, 13 reported growth in November, in the following order: Computer & Electronic Products; Plastics & Rubber Products; Paper Products; Textile Mills; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; Machinery; Transportation Equipment; Chemical Products; Food, Beverage & Tobacco Products; Apparel, Leather & Allied Products; Furniture & Related Products; and Petroleum & Coal Products.
The non-manufacturing survey index for November was 60.7, increasing over the month by 0.4 points, still well in expansion territory. Business activity (65.2) increased by 2.7 points while New Orders (62.5) increased by 1.0 points. Inventory (57.5) increased by 1.5 points. Supplier Deliveries (56.5) decreased by 1.0 points while Employment (58.4) decreased 1.3 points. The 17 non-manufacturing industries reporting growth in November — listed in order — are: Educational Services; Professional, Scientific & Technical Services; Health Care & Social Assistance; Transportation & Warehousing; Construction; Wholesale Trade; Real Estate, Rental & Leasing; Management of Companies & Support Services; Information; Finance & Insurance; Retail Trade; Other Services; Mining; Accommodation & Food Services; Public Administration; Arts, Entertainment & Recreation; and Utilities.
Missouri’s November PMI increased 2.2 points over the month to 54.7 - and still above the 50.0 percent expansion threshold. Other states in the survey were Arkansas (53.9), Iowa (52.8), Kansas (51.6), Minnesota (53.9), Nebraska (51.3), North Dakota (57.6), Oklahoma (55.9) and South Dakota (55.6). Overall, the November Mid America Regional Index decreased to 54.1 from the previous month’s score of 54.9 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.