March 2024
Missouri’s Purchasing Managers’ Index (PMI) for March was 53.8, increasing 7.2 points from February indicating an expanding economy, according to the monthly Mid-America Business Conditions Survey, conducted by Creighton University, Omaha, NE.
According to Creighton University, the Mid-America Business Conditions Index, has hovered around growth neutral for the past four months, gaining 0.5 points in March to 49.6.
Economists consider the index a key economic indicator. It measures such factors as new orders, production, supplier delivery times, backlogs, inventories, prices, employment, import orders and exports. Typically, a score greater than 50 indicates an expansionary economy while a score below 50 forecasts a sluggish economy. The US March PMI® for manufacturing registered 50.3, increasing 2.5 percentage points from February.
Note: The national purchasing manager's indices are produced by the Institute for Supply Management, formerly the Purchasing Management Association.