Missouri’s Purchasing Managers’ Index (PMI) for May was 69.5, decreasing 3.7 points from April, but still well in expansion territory, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
For the twelfth straight month, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, advanced above growth neutral since the beginning of the pandemic. 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 US May PMI® for manufacturing registered 61.2, increasing 0.5 points from the April reading of 60.7 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.