The Institute for Supply Management, formerly the Purchasing Management Association, began formally surveying its membership in 1931 to gauge business conditions.
The Creighton Economic Forecasting Group uses the same methodology as the national survey to consult supply managers and business leaders. Creighton University economics professor Ernie Goss oversees the report.
The overall index ranges between 0 and 100. Growth neutral is 50, and a figure greater than 50 indicates an expanding economy over the next three to six months.
Here are the state-by-state results for January:
Arkansas: Arkansas’ overall index for January rose to 55.3 from December’s 53.7. Components of the index were new orders at 56.2, production or sales at 56.2, delivery lead time at 53.0, inventories at 53.3, and employment at 57.8. “Expansions among nondurable-goods producers more than offset continuing weak conditions reported by durable-goods manufacturers in the state,” Goss said.
Iowa: The overall index for Iowa inched up to 51.8 in January from 51.7 in December. Components were new orders at 55.1, production or sales at 55.1, delivery lead time at 51.8, employment at 54.2, and inventories at 42.8. “Iowa durable-goods manufacturers, including metal producers and agriculture equipment manufacturers, continue to shed jobs. On the other hand, nondurable-goods producers are adding jobs, but at a slow pace,” he said.
Kansas: The Kansas overall index rose to 53.2 last month from 51.1 in December. Index components were new orders at 55.5, production or sales at 55.9, delivery lead time at 52.3, employment at 55.7 and inventories at 47.0. “Durable-goods manufacturers in the state, including machinery producers, are experiencing pullbacks in the economic activity. On the other hand, nondurable-goods producers, including food processors, are expanding business activity,” Goss said.
Minnesota: The overall index for Minnesota hit 54.7 last month, compared with 52.3 in December. Components of the index were new orders at 55.4, production or sales at 57.1, delivery lead time at 52.8, inventories at 51.5 and employment at 57.2. “Minnesota durable-goods manufacturers, including metal producers and agriculture equipment manufacturers, continue to shed jobs,” Goss said. On the other hand, nondurable-goods producers, including food processors, are adding jobs at a solid pace.
Missouri: January’s overall index dropped to 53.7 last month in Missouri from 57.1 in December. Components of the index were new orders at 54.9, production or sales at 55.2, delivery lead time at 51.6, inventories at 53.4 and employment at 53.8. “Missouri’s durable-goods manufacturers, including machinery producers, are experiencing pullbacks in the economic activity. On the other hand, nondurable-goods producers, including food processors, are expanding business activity,” said Goss.
Nebraska: The January overall index for Nebraska rose to 56.9 in January from 55.3 in December. Components of the index were new orders at 56.5, production or sales at 57.1, delivery lead time at 53.6, inventories at 58.1 and employment at 53.6. “Both durable- and nondurable-goods manufacturers expanded business activity in the state but at a slow pace for the month. Nebraska food processors, on the other hand, advanced at a healthy pace,” he said.
North Dakota: North Dakota’s overall index fell to 49.7 from 51.0 in December. Components were new orders at 54.7, production or sales at 54.1, delivery lead time at 51.1, employment at 52.1 and inventories at 36.7. “North Dakota’s durable-goods manufacturers, including machinery producers, are experiencing pullbacks in the economic activity. On the other hand, nondurable-goods producers, including food processors, are expanding business activity, but at a slow pace,” Goss said.
Oklahoma: The state’s overall index increased to 52.3 last month from 48.8 in December. Components were new orders at 55.5, production or sales at 51.4, delivery lead time at 52.2, inventories at 46.7 and employment at 55.6, “Oklahoma’s durable-goods manufacturers, especially metal producers, are shedding jobs and business activity. On the other hand, nondurable-goods manufacturers, including food processors, continue to expand business activity,” he said.
South Dakota: South Dakota’s overall index rose to 57.2 from 56.5 in December. Index components were new orders at 56.9, production or sales at 57.0, delivery lead time at 53.6, inventories at 58.8 and employment at 59.7. South Dakota’s manufacturing sector, especially nondurable-goods producers, is expanding at a solid pace even as heavy manufacturers reduce hiring, Goss said.
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