MO economic index up in March

Missouri's Purchasing Managers' Index registered at 54.9 in March, representing an expanding economy.

The index, produced by the Institute for Supply Management and released by the Missouri Economic Research and Information Center, measures factors such as new orders, production, supplier delivery times, backlogs, inventories, prices, employment, and imports and exports. An index above 50 indicates an expansionary economy, while rates below 50 point to a sluggish economy for the next three to six months, according to a news release.

Among the 10 states in the mid-America region, Missouri ranked No. 6. The regional average was 58.2, outpacing the national average of 51.3. The Mid-America states ranked by their March PMI:

• Iowa, 65.5;
• Oklahoma, 60;
• South Dakota, 58.7;
• North Dakota, 55.8;
• Minnesota, 55.2;
• Missouri, 54.9;
• Arkansas, 53.9
• Nebraska, 53.4; and
• Kansas, 52.

The national PMI of 51.3 last month decreased from 54.2 in February. March was the sixth month in the last seven with a PMI above 50, the release said.[[In-content Ad]]