Alva Review-Courier -

Midwest economy: April state-by-state glance

 

April 30, 2017



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 an expanding economy over the next three to six months.

Here are the state-by-state results for April:

Arkansas: The state's overall index for April fell to 61.1 from March's 63.2. Components of the index were new orders at 59.8, production or sales at 64.1, delivery lead time at 55.1, inventories at 63.4 and employment at 63.2. The state's overall nonfarm job growth over the past 12 months was 1.1 percent. That's higher than the region's 0.9 percent but below the nation's 1.5 percent. "Creighton's survey results over the past several months indicate that Arkansas job and economic growth will climb toward the national average through the third quarter of this year," Goss said.

Iowa: Iowa's overall index jumped to 64.7 last month from 60.5 in March. Components of the index were new orders at 65.8, production or sales at 64.3, delivery lead time at 58.7, employment at 67.3 and inventories at 67.5. The state's overall nonfarm job growth over the past 12 months was 0.5 percent — below the region's 0.9 percent and the nation's 1.5 percent. The survey results over the past several months indicate that Iowa job and economic growth will climb but fall short of the national average through the third quarter of 2017, Goss said.

Kansas: The state's index rose to 56.4 in April from 52.2 in March. Components of index were new orders at 57.5, production or sales at 59.7, delivery lead time at 51.3, employment at 54.3 and inventories at 59.0. The state's overall nonfarm job growth over the past 12 months was 0.3 percent, trailing the region's figure of 0.9 percent and the nation's 1.5 percent. The survey results over the past several months indicate that Kansas job and economic growth will climb but will remain below the national average through the third quarter, he said.

Minnesota: Minnesota's overall index slipped to 61.2 last month from March's 61.8. Components of the index were new orders at 61.8, production or sales at 64.1, delivery lead time at 55.1, inventories at 61.7 and employment at 63.2. Minnesota's overall nonfarm job growth over the past 12 months was 1.5 percent, well above the region's 0.9 percent and equal to the nation's figure. "Creighton's survey results over the past several months indicate that Minnesota job and economic growth will exceed the national average through the third quarter of this year," Goss said.

Missouri: The state's index declined to 62.4 in April from 66.6 in March. Components of the index were new orders at 62.7, production or sales at 65.0, delivery lead time at 55.9, inventories at 64.3 and employment at 64.1. "The state's overall nonfarm job growth over the past 12 months was 1.4 percent, which was above the region's 0.9 percent but slightly below the nation's 1.5 percent," Goss said. Creighton's survey results suggest Missouri's job and economic growth will exceed the national average through the third quarter, he said.

Nebraska: Nebraska's index rose in April to 61.0, compared with 59.8 in March. Components of the index were new orders at 60.2, production or sales at 62.4, delivery lead time at 58.9, inventories at 61.7 and employment at 61.5. Nebraska's overall nonfarm job growth over the past 12 months was 0.9 percent — equal to the region's 0.9 percent but under the nation's 1.5 percent. "Creighton's survey results over the past several months indicate that Nebraska job and economic growth will climb toward, but remain below, the national average through the third quarter of this year," Goss said.

North Dakota: The state's overall index climbed to 57.3 last month from 54.3 in March. Components of the index were new orders at 57.6, production or sales at 59.8, delivery lead time at 51.4, employment at 58.9 and inventories at 59.1. The state has lost 0.3 percent of its total nonfarm jobs over the past 12 months. "Creighton's survey results over the past several months indicate that North Dakota job and economic growth will climb into positive territory through the third quarter of this year," Goss said.

Oklahoma: Oklahoma's index jumped to 61.2 in April from 58.2 in March. Components of the overall index were new orders at 61.4, production or sales at 63.7, delivery lead time at 54.8, inventories at 63.0 and employment at 62.8. The state lost 0.1 percent of its total nonfarm jobs over the past 12 months. "Creighton's survey results over the past several months indicate that Oklahoma job and economic growth will climb into positive territory through the third quarter of this year but remain below the national average," Goss said.

South Dakota: The state's overall index rose to a regional high of 68.8 in April from 67.2 in March — also a regional high. Components of the index were new orders at 69.2, production or sales at 71.7, delivery lead time at 61.6, inventories at 70.9 and employment at 70.7. "South Dakota's overall nonfarm job growth over the past 12 months was 1.6 percent, which was above the region's 0.9 percent and the nation's 1.5 percent," Goss said. Survey results over the past several months indicate that South Dakota job and economic growth will continue to exceed the regional and national averages through the third quarter, he said.

 

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