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 December:
Arkansas: The state’s overall index climbed to 53.0 from November’s 49.7. Index components were new orders at 54.2, production or sales at 51.4, delivery lead time at 55.3, inventories at 57.2 and employment at 46.7. “Based on recent surveys, I expect the Arkansas economy, for the first half of 2020, to rank third in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 2.84%,” said Goss.
Iowa: After falling below growth neutral, the state’s overall index rose above the threshold in December to hit 50.9 , compared with 49.2 in November. Index components for Iowa were new orders at 50.8, production or sales at 48.2, delivery lead time at 54,6, employment at 45.8 and inventories at 55.1. “Based on recent surveys, I expect the Iowa economy, for the first half of 2020, to rank sixth in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 1.5%,” Goss said.
Kansas: The state’s overall index increased to 52.1 from November’s 51.0. December index components for Kansas were new orders at 54.1, production or sales at 47.3, delivery lead time at 55.3, employment at 46.7 and inventories at 57.2. “Based on recent surveys, I expect the Kansas economy, for the first half of 2020, to rank third in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 2.84%,” he said.
Minnesota: Minnesota’s overall index slipped to 50.7 last month from 50.9 in November. Index components were new orders at 49.5, production or sales at 48.1, delivery lead time at 54.7, inventories at 55.4 and employment at 45.9. “Based on recent surveys, I expect the Minnesota economy, for the first half of 2020, to rank fifth in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 1.7%,” Goss said.
Missouri: The state’s overall index rose to 50.5 in December from November’s 48.4. Index components were new orders at 49.8, production or sales at 48.5, delivery lead time at 54.3, inventories at 54.4 and employment at 45.5. “Based on recent surveys, I expect the Missouri economy, for the first half of 2020, to rank seventh in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 1.1%,” said Goss. Nebraska: Nebraska’s overall index climbed above growth neutral after falling below the threshold. The state’s overall index jumped to 52.1 in December, compared with 48.2 in November. Index components were new orders at 54.2, production or sales at 47.2, delivery lead time at 55.3, inventories at 57.3 and employment at 46.7. “Based on recent surveys, I expect the Nebraska economy, for the first half of 2020, to rank second in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 2.9%,” he said.
North Dakota: The state’s overall index sank to 48.2 last month from November’s 50.0. Index components were new orders at 42.1, production or sales at 49.5, delivery lead time at 53.6, employment at 44.5 and inventories at 52.1. “Based on recent surveys, I expect the North Dakota economy, for the first half of 2020, to rank eighth in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 0.9%,” Goss said.
Oklahoma: Oklahoma’s overall index rose slightly last in December, hitting 48.4, compared with 47.8 in November. Index components were new orders at 42.1, production or sales at 49.5, delivery lead time at 53.6, inventories at 52.1 and employment at 44.5. “Based on recent surveys, I expect the Oklahoma economy, for the first half of 2020, to rank last in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at minus 0.2%,” said Goss. South Dakota: The state’s overall index jumped to 52.3 last month from November’s 48.9. Index components were new orders at 54.5, production or sales at 47.2, delivery lead time at 55.4, inventories at 57.5 and employment at 46.8. “Based on recent surveys, I expect the South Dakota economy, for the first half of 2020, to rank first in the region in terms of economic performance with overall annualized inflation-adjusted GDP growth at 3%,” he said.
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