Missouri’s Purchasing Managers’ Index (PMI) for August was 59.5, increasing 6.9 points from July, indicating an expansionary economy, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
For the second time in six months, the Mid America Region’s overall index fell below 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 May PMI® for manufacturing registered 47.6 up 1.2 from the July reading.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.