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 February:
Arkansas: The state’s overall index for February rose to 58.9 from January’s 55.3. Components of the index were new orders at 66.0, production or sales at 68.3, delivery lead time at 50.9, inventories at 54.7 and employment at 54.3. Recent surveys point to solid state growth for the next six months, with job additions of about 4,000. Leading industries: trucking and health services. Lagging industries: retail trade, durable-goods manufacturing.
Iowa: Iowa’s overall index soared to 62.6 from 51.8 in January. Components of the overall index were new orders at 67.4, production or sales at 69.7, delivery lead time at 52.0, employment at 57.7 and inventories at 66.4. Recent surveys point to solid growth for the next six months, with job additions of about 4,500. Leading industries: food processing and ethanol production. Lagging industries: metal manufacturers and agriculture equipment producers.
Kansas: The state’s overall index jumped to 61.5 last month from 53.2 in January. Components of the index were new orders at 66.9, production or sales at 69.3, delivery lead time at 51.7, employment at 56.7 and inventories at 62.9. Recent surveys point to solid growth for the next six months, with about 2,500 new jobs. Leading industries: aircraft and aircraft parts manufacturers and food processing. Lagging industries: metal manufacturers and agriculture equipment producers.
Minnesota: Minnesota’s overall index slid last month to 54.3 from 54.7 in January. Components of the overall index were new orders at 55.4, production or sales at 67.4, delivery lead time at 50.1, inventories at 46.5 and employment at 52.0. Recent surveys point to positive but slow growth for the next six months. Leading industries: ethanol and medical equipment manufacturers. Lagging industries: vehicle parts manufacturers and agriculture equipment producers.
Missouri: The state’s overall index shot up in February to 66.8 from January’s 53.7. Components of the overall index from the survey of supply managers were new orders at 73.7, production or sales at 76.3, delivery lead time at 57.2, inventories at 53.4 and employment at 73.5. Recent surveys point to healthy growth for the next six months, with job additions of about 16,000. Leading industries: banking and finance, and trucking. Lagging industries: motor vehicle and vehicle parts manufacturers and metal manufacturers.
Nebraska: Nebraska’s overall index dipped to 55.4 last month from 56.9 in January. Components of the index were new orders at 56.5, production or sales at 67.1, delivery lead time at 50.4, inventories at 49.6 and employment at 52.9. Recent surveys point to positive but slow growth for the next six months, with expectations of about 2,200 new jobs. Leading industries: ethanol and trucking. Lagging industries: metal manufacturers and agriculture equipment producers.
North Dakota: The state’s overall index rocketed to 66.8 last month from 49.7 in January. Components of the overall index were new orders at 54.7, production or sales at 71.5, delivery lead time at 53.4, employment at 62.0 and inventories at 81.2. Recent surveys point to soft growth over the next six months, with about 2,800 new jobs. Leading industries: oil exploration and health services. Lagging industries: durable-goods manufacturing.
Oklahoma: Oklahoma’s overall index increased to 59.0 in February from 52.3 in January. Components of the overall index were new orders at 66.0, production or sales at 68.4, delivery lead time at 50.9, inventories at 55.1 and employment at 54.5. Recent surveys point to solid growth for the next six months, with job additions of about 14,000. Leading industries: mining support firms and food processing. Lagging industries: machinery manufacturing.
South Dakota: The state’s overall index rose to 62.4 from January’s 57.2. Components of the overall index were new orders at 67.3, production or sales at 69.7, delivery lead time at 51.9, inventories at 65.7 and employment at 57.5. Recent surveys point to healthy state growth for the next six months, with job additions of about 4,200. Leading industries: banking and finance and nondurable-goods manufacturing. Lagging industries: durable-goods producers.
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