State's business conditions index falls in March

The state’s Business Conditions Index fell to 61.6 from 64.7 in February and 63.7 in January. It is the first time the index has declined since October.

Indexes range from 0 to 100, and an index number higher than 50 indicates an expanding economy, according to the Missouri Department of Economic Development.

“While the state’s economy and manufacturing sector continue to grow, firms with ties to vehicle manufacturing have yet to halt their downturn trend,” said Creighton economics professor Ernie Goss in a news release. “Thus, even as Missouri’s economy advances, I expect its unemployment rate to remain as much as a half percentage point above that of the nation.”

The report identifies computer software and systems design as Missouri’s biggest gaining industry, and vehicle and parts manufacturing as its biggest waning industry.

This story originally appeared in SBJ’s April 11 free e-news Daily Update. Click here to register.