Missouri’s Purchasing Managers’ Index (PMI) for July was 51.9, a decrease of 8 points, but still 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 July PMI® for manufacturing registered 51.2, decreasing 0.5 points from the June reading of 51.7 percent. Economic activity in the manufacturing sector stayed above 50 in the expansionary range for the 123rd consecutive month according to the nation's supply executives in the latest Manufacturing ISM®, Report on Business®.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.