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. A figure below 50 indicates decline.
Here are the state-by-state results for October:
Arkansas: The overall index for Arkansas fell to 64.4 from September’s 68.5. Components of the index were: new orders at 75.5, production or sales at 72.4, delivery lead time at 63.4, inventories at 48.5, and employment at 62.1. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood a 0.9% in the second week of March, peaked at 11.7% in the third week of May, and fell to 1.8% in the third week of October,” Goss said.
Iowa: The state’s overall index climbed to 78.7 from 67.1 in September. Components were: new orders at 82.1, production. or sales at 71.2, delivery lead time at 69.3, employment at 80.9, and inventories at 93.4. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 1.7% in the second week of March, peaked at 12.4% in the first week of May, and fell to 2.6% in the third week of October,” Goss said.
Kansas: The overall state index increased to 68.7 from 63.0 in September. Components of the index were: new orders at 76.9, production or sales at 74.1, delivery lead time at 68.6, employment at 66.1, and inventories at 58.0. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 0.7% in the second week of March, peaked at 14.6% in the third week of May, and fell to 4% in the third week of October,” Goss said.
Minnesota: The overall index for Minnesota soared to 82.7 from 55.9 in September. Components of the overall October index were: new orders at 81.4, production or sales at 79.4, delivery lead time at 85.0, inventories at 88.5, and employment at 78.9. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 2.3% in the second week of March, peaked at 14.9% in the second week of May, and fell to 4.2% in the third week of October,” Goss said.
Missouri: The overall index for Missouri advanced to 78.0 from September’s 74.4. Components were: new orders at 84.6, production or sales at 83.2, delivery lead time at 78.8, inventories at 55.6, and employment at 87.9. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 0.8% in the second week of March, peaked at 9.5% in the third week of May, and fell to 1.9% in the third week of October,” Goss said.
Nebraska: Nebraska’s overall index for September jumped to 71.4 from 62.9 in September. Components of the index were: new orders at 77.8, production or sales at 75.1, delivery lead time at 71.7, inventories at 63.9, and employment at 68.6. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 0.5% in the second week of March, peaked at 11% in the fourth week of May, and fell to 3.2% in the third week of October,” Goss said.
North Dakota: The overall index for North Dakota climbed to 59.0 from 55.6 in September. Components were: new orders at 72.7, production or sales at 69.1, delivery lead time at 53.2, employment at 54.2, and inventories at 45.6. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 1.5% in the second week of March, peaked at 9.7% in the first week of May, and fell to 1.3% in the third week of October,” Goss said.
Oklahoma: The state’s overall index advanced to a strong 61.1 from September’s 58.6. Components were: new orders at 72.4, production or sales at 68.7, delivery lead time at 52.2, inventories at 58.9, and employment at 53.5. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 1.1% in the second week of March, peaked at 9.6% in third week of May, and fell to 3.8% in the third week of October,” Goss said.
South Dakota: The overall index for South Dakota climbed to 71.2 from 59.9 in September. Components of the overall index were: new orders at 77.7, production or sales at 75.0, delivery lead time at 71.4, inventories at 63.4, and employment at 68.3. “Validating a rapidly improving state economy, U.S. Department of Labor data indicate that the state’s insured unemployment rate stood at 0.6% in the second week of March, peaked at 9.7% in the fourth week of May, and fell to 1.0% in the third week of October,” Goss said.
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