PMI: Missouri shows continued economic growth in June

Missouri's Purchasing Managers' Index climbed for the seventh consecutive month in June, according to the Missouri Department of Economic Development. The PMI rose to 64.6 in June, up one point compared to the previous month. The latest PMI is Missouri's highest score since April 2000.

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.

Missouri's PMI score has been above the critical 50 mark for five straight months. A score above 50 is considered to be one sign of an expansionary economy. A score below 50 forecasts a sluggish economy for the next three to six months.

Missouri's strong June score was due to high readings in production (74.5), new orders (73.1), inventories (57.7) and employment (50.9).

"Obviously we are pleased by the continued strength in this monthly economic measure," said Joseph L. Driskill, director of the Missouri Department of Economic Development.

"Our score has soared nearly 30 points in the past seven months and is at its highest level in more than two years. We are looking forward to the time when other economic indicators that we regularly watch reflect the same levels of growth."

Missouri's PMI score kept it second among the nine states in the Mid-America region, ranking behind Arkansas, which had a score of 68.5. Other states in the regional survey included: Iowa at 61.7, South Dakota 60.5, Nebraska 54.9, Kansas 53.4, Minnesota 53.4, North Dakota 50.5, and Oklahoma 46.1.

Overall, the average for the Mid-America Region was 56.8 in June, a decrease from May's 57.9. The employment index for the region rose to 52.2, the highest level since September 2000.

Nationally, the PMI increased to 56.2 in June, up from 55.7 in May.

The United States score was above the expansionary level of 50 for the fifth straight month.

The Purchasing Managers' Index is part of a monthly Mid-American Business Conditions Survey, conducted by Creighton University in Omaha, Neb.