Missouri’s economy dips slightly in June

Missouri’s Purchasing Managers’ Index score fell to 56 in June from 57.4 in May, according to Creighton University’s Mid-American Business Conditions Survey.

Economists consider the index a key economic indicator. It measures new orders, production, employment, prices, imports and exports, backlogs and inventories, and supplier delivery times. A score greater than 50 indicates an expanding economy while a score below 50 forecasts a sluggish economy for the next three to six months.

Missouri’s score has remained above the critical 50-mark for 41 consecutive months, according to Missouri’s Department of Economic Development. The survey showed healthy June scores in production, 59.7, employment, 55.5, and new orders, 55.

Comparatively, Missouri recorded the third-lowest score in the Mid-America Region, comprising South Dakota, 70.2, North Dakota, 63.8, Nebraska, 63.7, Arkansas, 61.9, Kansas, 61.5, Iowa, 60.6, Oklahoma, 54.6 and Minnesota, 54.2.

The region’s June average was 59.2, down from 60.7.

The national PMI for manufacturing industries improved 2.4 points to 53.8 in June.

For related coverage from June 27, 2005, click here.

For related coverage from May 30, 2005, click here.

For related coverage from May 2, 2005, click here.