Missouri’s Purchasing Managers’ Index (PMI) for July was 44.7, a decrease of 5.8 points from June, and just under 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 54.2, increasing 1.6 points from the June reading of 52.6 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.