Missouri’s Purchasing Managers’ Index (PMI) for December was 43.6, decreasing 3.6 points from November, indicating a sluggish economy, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
For the first time since the early days of the pandemic in May 2020, the overall Mid America index, or business barometer, plummeted below growth neutral for a second straight month, pointing to higher recession risk for 2023.
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 December PMI® for manufacturing registered 48.4 down 0.6 points from the November reading.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.