Missouri’s Purchasing Managers’ Index (PMI) for September was 74.4, the highest index in the Midwest and an increase of 11.4 points from August, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
In April of this year, Covid-19 pushed the overall index to its lowest level in 11years. Since April, the overall index has risen five consecutive months with four straight months above growth neutral 50.0. 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 September PMI® for manufacturing registered 55.4, decreasing 0.6 points from the August reading of 56.0 percent.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.