OMAHA, Neb. (AP) - 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 growth in that factor over the next three to six months.
Here are the state-by-state results for July:
Arkansas: Arkansas’ overall index plummeted to 51.0 last month from June’s 60.1. Index components were new orders at 48.7, production or sales at 52.4, delivery lead time at 54.0, inventories at 46.7 and employment at 53.2. Recent surveys indicate that manufacturers in the state were experiencing solid gains in economic activity. “U.S. Bureau of Labor Statistics data show that workers in the state have experienced a strong 5.2% gain in hourly wages over the past 12 months, well above the national gain of 3.2%,” Goss said.
Iowa: The state’s overall index rose to 52.6, compared with 50.4 in June. Index components for July were new orders at 52.6, production or sales at 52.2, delivery lead time at 54.1, employment at 56.6 and inventories at 47.2. Recent surveys indicate that manufacturers were experiencing gains in economic activity. Federal data shows Iowa workers have experienced a 3.1% increase in hourly wages over the past 12 months, slightly below the national gain of 3.1% over the same period, he said.
Kansas: Kansas’ overall index plunged to 52.1 in July from June’s regional high of 62.9. Index components were new orders at 54.7, production or sales at 51.7, delivery lead time at 51.7, employment at 57.2 and inventories at 45.2. Recent surveys show gains in manufacturers’ economic activity. Federal data shows that workers have experienced a 5.4% gain in hourly wages over the past 12 months, well above the national gain of 3.2%, Goss said.
Minnesota: The state’s overall index fell in July to 51.7 from 53.4 in June. Index components were new orders at 50.0, production or sales at 52.6, delivery lead time at 53.8, inventories at 46.2 and employment at 55.9. Recent surveys indicate that durable-goods manufacturers were experiencing slow to no gains in economic activity. Nondurable-goods producers experienced slightly negative economic conditions in recent months. Federal data shows that Minnesota workers have experienced a 3.6% increase in hourly wages over the past 12 months.
Missouri: Missouri’s overall index slumped to 51.9 last month from June’s 59.9. Index components were new orders at 51.8, production or sales at 51.4, delivery lead time at 48.8, inventories at 50.0 and employment at 57.5. Recent surveys show that manufacturers were experiencing solid gains in economic activity. Federal statistics show that workers have experienced a weak 2.7% gain in hourly wages over the past 12 months, well below the national gain of 3.2%, Goss said.
Nebraska: After falling below growth neutral in May, Nebraska’s overall index remained above the growth neutral threshold of 50.0 for a second straight month. However, it dropped to 52.9 in July from 55.9 in June. Index components were new orders at 53.4, production or sales at 52.0, delivery lead time at 54.3, inventories at 47.9 and employment at 56.8. “Recent surveys indicate that durable-goods producers, including machinery manufacturers, experienced declines in economic activity. On the other hand, nondurable-goods producers, including food manufactures, are experiencing solid gains in economic activity,” Goss said. Federal data shows that workers have experienced a 3.1% increase in hourly wages over the past 12 months, slightly below the national gain of 3.2%, he said.
North Dakota: The state’s overall index rose slightly. It hit 55.4 in July, compared with 55.0 in June. Index components were new orders at 54.0, production or sales at 55.6, delivery lead time at 58.5, employment at 57.0 and inventories at 52.0. “Recent surveys indicate that durable-goods producers, including machinery manufacturers, are experiencing solid gains in business activity. On the other hand, nondurable-goods producers, including food manufacturers, are experiencing slight declines in economic activity,” he said. Federal statistics show North Dakota workers have experienced a solid 4.6% increase in hourly wages over the past 12 months.
Oklahoma: Oklahoma’s overall index dropped to 52.8 last month from June’s 54.9. Index components were new orders at 53.2, production or sales at 52.1, delivery lead time at 54.3, inventories at 47.7 and employment at 56.8. Recent surveys indicated that manufacturers experienced business pullbacks in economic activity, Goss said. Federal data shows that workers have experienced a strong 4.5% increase in hourly wages over the past 12 months.
South Dakota: The state’s overall index fell to 52.5 last month from June’s 54.1. Index components were new orders at 52.6, production or sales at 52.3, delivery lead time at 47.2, inventories at 47.2 and employment at 56.6. Recent surveys indicate that manufacturers were experiencing solid gains in economic activity. U.S. Bureau of Labor Statistics data shows that workers have experienced a weak 2.5% gain in hourly wages over the past 12 months, well below the national gain of 3.2%, he said.
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