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June Midwest Economy Report

June Midwest Economy Report

Midwest economy: June state-by-state glance


The Associated Press - July 1, 2019

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 June:

Arkansas: The overall index for Arkansas rose last month to 60.1 from May's 55.9. Index components were new orders at 57.0, production or sales at 58.2, delivery lead time at 60.7, inventories at 61.0 and employment at 63.7. "Recent surveys indicate that both durable- and nondurable-goods producers in the state are experiencing solid gains in economic activity. U.S. Bureau of Labor Statistics data (shows) workers in the state have experienced a strong 4.9% gain in hourly wages over the past 12 months, well above the national gain of 3.1%," said Goss.

Iowa: Iowa's overall index rose above growth neutral in June, hitting 50.4 compared with 47.0 in May. Index components were new orders at 53.5, production or sales at 47.7, delivery lead time at 49.8, employment at 51.0 and inventories at 50.0. Manufacturers in Iowa are experiencing positive gains in economic activity. "U.S. Bureau of Labor Statistics data (shows) that workers in the state have experienced a solid 3.6% increase in hourly wages over the past 12 months, above the national gain of 3.1% over the same period of time," he said.

Kansas: The state's overall index rose last month to a regional high of 62.9 from 55.9 in May. Index components were new orders at 59.2, production or sales at 66.4, delivery lead time at 63.7, employment at 61.1 and inventories at 64.0. U.S. Bureau of Labor Statistics data shows Kansas workers have experienced a 4.9% gain in hourly wages over the past 12 months, well above the national gain of 3.1% over the same period. Goss also reported gains in economic activity by Iowa manufacturers.

Minnesota: The June overall index for Minnesota fell to 53.4 from 55.0 in May. Index components were new orders at 51.8, production or sales at 51.2, delivery lead time at 56.9, inventories at 53.7 and employment at 53.4. Recent surveys indicate that durable-goods manufacturers are experiencing slight positive gains in economic activity, Goss said. But nondurable-goods producers experienced slightly negative economic conditions in recent months. U.S. Bureau of Labor Statistics data shows hourly wages have risen 3.4% over the past 12 months, compared with the national gain of 3.1%.

Missouri: Missouri's overall index climbed to 59.9 from May's 57.1. Index components were new orders at 63.5, production or sales at 58.0, delivery lead time at 60.5, inventories at 60.8 and employment at 56.9. Missouri manufacturers are reporting solid gains in economic activity, Goss said. U.S. Bureau of Labor Statistics data shows Missouri workers have experienced a 2.4% gain in hourly wages over the past 12 months, well below the national gain of 3.1%, he said.

Nebraska: Nebraska's overall index soared above the growth neutral threshold of 50.0 to hit 55.9 in June, compared with 48.9 in May. Index components were new orders at 53.0, production or sales at 52.9, delivery lead time at 55.1, inventories at 55.4 and employment at 58.5. Recent surveys indicate that durable-goods producers experienced slight declines in economic activity, Goss said. "On the other hand, nondurable-goods producers, including food manufacturers, in the state are experiencing solid gains in economic activity," he said. U.S. Bureau of Labor Statistics data shows that Nebraska workers have experienced a 3.3% increase in hourly wages over the past 12 months, slightly above the national gain of 3.1%.

North Dakota: The overall index jumped to 55.0 last month from 49.0 in May. North Dakota's index components were new orders at 51.6, production or sales at 50.9, delivery lead time at 53.1, employment at 56.6 and inventories at 53.4. Recent surveys show North Dakota manufacturers are experiencing solid gains in economic activity. Goss said U.S. Bureau of Labor Statistics data shows that hourly wages have risen 4.7% over the past 12 months, well above the national gain of 3.1%.

Oklahoma: Oklahoma's overall index also moved above growth neutral 50.0, hitting 54.9 in June, compared with 48.9 in May. Index components were new orders at 53.0, production or sales at 52.8, delivery lead time at 55.1, inventories at 55.3 and employment at 58.4. "Except for June, recent surveys indicate that both durable- and nondurable-goods producers in the state experienced business pullbacks in economic activity," Goss said. U.S. Bureau of Labor Statistics data shows that hourly wages in Oklahoma have risen 6.7% over the past 12 months, more than twice the national gain of 3.1%.

South Dakota: The state's overall index dipped to 54.1 last month from 55.0 in May. Index components were new orders at 53.4, production or sales at 58.9, delivery lead time at 49.2, inventories at 55.9 and employment at 53.3. South Dakota manufacturers reported solid gains in economic activity in recent surveys. U.S. Bureau of Labor Statistics data shows a 2.4% gain in hourly wages over the past 12 months, well below the national gain of 3.1%. Goss said manufacturers reported economic growth slowed in June.

 



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