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 August:
Arkansas: The overall index for Arkansas advanced to 65.9 last month from July’s 61.2. Components of the index were new orders at 61.3, production or sales at 70.1, delivery lead time at 65.6, inventories at 64.7 and employment at 68.0. “Arkansas is adding manufacturing jobs at an annual pace above 2.2 percent and nonmanufacturing at a rate exceeding 2.5 percent. Our surveys over the past several months indicate this positive trend will continue for the remainder of 2017,” Goss said.
Iowa: Iowa’s overall index rose to 57.7 last month from 54.9 in July. Components were new orders at 53.6, production or sales at 62.3, delivery lead time at 56.4, employment at 59.4 and inventories at 56.6. “The state is adding manufacturing jobs at an annual pace slightly below 1 percent and nonmanufacturing employment at a rate slightly above 1 percent. Our surveys over the past several months indicate this positive but modest trend will continue for the remainder of 2017,” he said.
Kansas: The state’s overall index slumped to a regional low of 42.8 in August from 45.9 in July - also a regional low. Components of the index were new orders at 39.8, production or sales at 48.3, delivery lead time at 40.0, employment at 44.1, and inventories at 42.0. “Kansas is shedding manufacturing jobs at an annual pace of one-half of 1 percentage point and losing nonmanufacturing at an annual rate of almost 1 percent. Our surveys over the past several months indicate this negative trend will continue for the remainder of 2017,” Goss said.
Minnesota: Minnesota’s overall index dropped to a still healthy 61.8 last month from July’s 63.2. Index components were new orders at 57.5, production or sales at 66.2, delivery lead time at 61.0, inventories at 60.7 and employment at 63.8. “The state is adding manufacturing jobs at an annual pace of approximately 1 percent and growing nonmanufacturing employment at a rate exceeding 2 percent. Our surveys over the past several months indicate this positive trend will continue for the remainder of 2017,” he said.
Missouri: The state’s overall index jumped to 61.1 in August from 52.3 in July. Components were new orders at 56.8, production or sales at 65.5, delivery lead time at 60.2, inventories at 60.0 and employment at 63.0. “Missouri is adding manufacturing jobs at an annual pace of approximately 2.5 percent and adding nonmanufacturing employment at a rate exceeding 2 percent. Our surveys over the past several months indicate this positive and healthy trend will continue for the remainder of 2017,” Goss said.
Nebraska: Nebraska’s overall index dipped to 57.9 from 58.0 in July. Components of the August index were new orders at 53.8, production or sales at 62.5, delivery lead time at 56.7, inventories at 56.8, and employment at 59.7. “The state is adding manufacturing jobs at an annual pace of almost 1.5 percent and growing nonmanufacturing employment at a rate of approximately 1.2 percent. Our surveys over the past several months indicate this positive trend will continue for the remainder of 2017,” he said.
North Dakota: The state’s overall index climbed to a regional high of 69.1 last month from July’s 66.7 - also a regional high. Components were new orders at 64.3, production or sales at 73.1, delivery lead time at 69.1, employment at 71.3 and inventories at 67.8. “While the state is losing manufacturing jobs at an annual pace of approximately 2 percent, North Dakota is growing jobs linked to energy and nonmanufacturing employment at a rate exceeding 1.5 percent,” Goss said. The past several months’ surveys indicate the trend will gain steam for the remainder of the year, he said, as the state’s energy sector boosts the overall state economy.
Oklahoma: After falling below growth neutral for July, Oklahoma’s overall index climbed to 56.2 last month, compared with 49.4 in July. Components were new orders at 52.2, production or sales at 60.9, delivery lead time at 54.7, inventories at 55.1 and employment at 57.9. “The state is adding manufacturing jobs at an annual pace of almost 2 percent and growing nonmanufacturing employment at a rate slightly above 1 percent. Our surveys over the past several months indicate this positive trend will continue for the remainder of 2017,” Goss said.
South Dakota: The state’s overall index plunged in August to 45.5 from July’s 53.3. Components were new orders at 43.1, production or sales at 47.1, delivery lead time at 43.9, inventories at 45.5 and employment at 47.8. “South Dakota is shedding manufacturing jobs at an annual pace of approximately 1 percent but growing nonmanufacturing employment at a rate only slightly above 0.3 percent. Our surveys over the past several months indicate this sluggish trend will continue for the remainder of 2017,” he said.
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