Missouri’s Purchasing Managers’ Index (PMI) for March was 49.5, increasing 1.5 points from March indicating an sluggish economy, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
For the third straight month, the Mid America Region’s overall index climbed 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 April PMI® for manufacturing registered 47.1, up 0.8 points from the March reading.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.