Missouri’s Purchasing Managers’ Index (PMI) for November was 48.4, a decrease of 5.2 points, and just below 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 48.1, decreasing 0.2 points from the October reading of 48.3 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.