Missouri’s Purchasing Managers’ Index (PMI) for July was 71.3, increasing 3.6 points from June, and still well in expansion territory, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
For 14 of the past 15 months, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, remained above growth neutral. Economists consider the index a key economic indicator. It measures such factors as new orders, production, supplier delivery times, backlogs, inventories, prices, employment, import orders and exports. Typically, a score greater than 50 indicates an expansionary economy while a score below 50 forecasts a sluggish economy. The US July PMI® for manufacturing registered 59.5, decreasing 1.1 points from the June reading of 60.6 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.