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 December:
Arkansas: The overall index for Arkansas increased slightly in December to 62.3 from November’s 62.2. Components of the index were: new orders at 64.9, production or sales at 60.9, delivery lead time at 76.6, inventories at 52.3, and employment at 56.7. Since the onset of COVID-19 in February, the Arkansas economy has lost a net of 41,000 nonfarm jobs, or 3.2%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: construction.
Iowa: Iowa’s overall index remained in positive territory in December though the reading declined to 64.7 from 74.6 in November. Components of the overall index were: new orders at 66.2, production. or sales at 62.5, delivery lead time at 83.0, employment at 55.6, and inventories at 57.7. Since the onset of COVID-19 in February, the Iowa economy has lost a net of 78,000 nonfarm jobs, or 4.9%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: financial activities.
Kansas: The state’s overall index for December decreased to 55.3 from 60.1 in November. Components of the index were: new orders at 62.7, production or sales at 58.2, delivery lead time at 65.6, employment at 44.2, and inventories at 45.6. Since the onset of COVID-19 in February, the Kansas economy has lost a net of 69,000 nonfarm jobs, or 4.8%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: construction.
Minnesota: The overall index for Minnesota declined in December to 67.6 from 73.2 in November. Components of the overall index were: new orders at 67.3, production or sales at 63.8, delivery lead time at 88.5, inventories at 54.0, and employment at 64.4. Since the onset of COVID-19 in February, the Minnesota economy has lost a net of 195,000 jobs, or 6.5%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: financial activities.
Missouri: The overall index for Missouri dropped to 67.2 in December from November’s 75.6. Components of the overall index were: new orders at 65.4, production or sales at 61.5, delivery lead time at 78.9, inventories at 72.0, and employment at 58.3. Since the onset of COVID-19 in February, the Missouri economy has lost a net of 115,000 nonfarm jobs, or 4%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: construction.
Nebraska: Nebraska’s overall index for December rose to 67 from 66.8 in November. Components of the index were: new orders at 66.3, production or sales at 62.6, delivery lead time at 83.5, inventories at 61.2, and employment at 61.2. Since the onset of COVID-19 in February, the Nebraska economy has lost a net of 35,000 nonfarm jobs, or 3.4%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: education & health services.
North Dakota: The overall index for North Dakota increased in December to 62.8 from 57.2 in November. Components of the overall index were: new orders at 64.4, production or sales at 60.3, delivery lead time at 74.2, employment at 55.2, and inventories at 60.0. Since the onset of COVID-19 in February, the North Dakota economy has lost a net of 33,000 nonfarm jobs, or 7.4%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: financial activities.
Oklahoma: The state’s overall index moved above growth neutral in December. The overall index climbed to 55.9 from November’s 49.4. Components of the overall index were: new orders at 62.6, production or sales at 58.1, delivery lead time at 65.1, inventories at 44.4, and employment at 49.3. Since the onset of COVID-19 in February, the Oklahoma economy has lost a net of 72,000 nonfarm jobs, or 4.3%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: financial activities.
South Dakota: The overall index for South Dakota climbed to 76.3 in December from 71.7 in November. Components of the overall index were: new orders at 67.3, production or sales at 63.9, delivery lead time at 88.7, inventories at 96.9, and employment at 64.5. Since the onset of COVID-19 in February, the South Dakota economy has lost a net of 15,000 nonfarm jobs, or 3.5%, according to the U.S. Bureau of Labor Statistics. Top performing industry for 2020: construction.
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