Midwest Economy: February State-by-state Glance

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 February:

Arkansas: The February overall index rose to 52.7 from January’s 52.5. Components of the index were new orders at 48.0, production or sales at 52.4, delivery lead time at 54.9, inventories at 56.6 and employment at 51.9. “Durable-goods manufacturers in the state are growing at a solid pace. However, even with this recent healthy growth, compared to pre-recession levels, this heavy-manufacturing sector has lost more than 18,000 jobs,” Goss said.

Iowa: Iowa’s overall index inched up to 52.6 last month from 52.2 in January. Components of the index were new orders at 49.2, production or sales at 47.6, delivery lead time at 63.9, employment at 49.5 and inventories at 53.1. “Durable-goods producers, including agriculture machinery manufacturers and metal manufacturing, are shedding jobs at a slow pace,” Goss said. “Average weekly wages for all Iowa workers, according to the (Bureau of Labor Statistics) have grown by 1.8 percent over the past year,” he said.

Kansas: Kansas’ overall index dropped to 52.
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7 in February from 53.8 in January. Components of the index were new orders at 35.9, production or sales at 56.2, delivery lead time at 56.2, employment at 54.6 and inventories at 51.7. Durable-goods producers, including agriculture machinery manufacturers and metal manufacturing, are slowly shedding jobs. “With recent pullbacks, compared to pre-recession levels, this heavy-manufacturing sector has lost more than 24,000 jobs,” Goss said. Average weekly wages for all Kansas workers, according to the statistics bureau, have grown 3.6 percent over the past year.

Minnesota: Minnesota’s overall index has remained above growth neutral for 27 months in a row and rose to 64.7 from 60.1 in January. Components of the index were new orders at 72.4, production or sales at 78.1, delivery lead time at 57.9, inventories at 57.7 and employment at 57.6. The state’s durable-goods manufacturers are growing at a solid pace, Goss said. But when compared to pre-recession levels, this heavy-manufacturing sector has lost almost 13,000 jobs. Average weekly wages for all Minnesota workers have grown a half percent over the past year, according to the statistics bureau.

Missouri: The February index rose to 56.8 last month from January’s 56.1. Components of the index were new orders at 59.1, production or sales at 64.1, delivery lead time at 55.1, inventories at 54.5 and employment at 51.5. Missouri’s durable-goods manufacturers are growing at a very healthy pace. Goss said. “However, even with this recent healthy growth, compared to pre-recession levels, this heavy-manufacturing sector has lost almost 32,000 jobs,” he said. Average weekly wages for all Missouri workers have sunk by 1.8 percent over the past year, the statistics bureau said.

Nebraska: For the 14th straight month, Nebraska’s overall index remained above growth neutral. The February index rose to 53.8, compared with 53.7 in January. Components of the index were new orders at 57.4, production or sales at 56.2, delivery lead time at 51.4, inventories at 51.0 and employment at 52.9. Durable-goods manufacturers are growing slowly, Goss said. The sector has lost more than 5,000 jobs, compared to pre-recession levels. But, he said, the statistics bureau says average weekly wages for all Nebraska workers “have grown by a healthy 2.6 percent over the past year.”

North Dakota: North Dakota’s overall index fell to 51.1 last month from 53.0 in January. Components of the overall index were new orders at 51.4, production or sales at 51.5, delivery lead time at 52.1, employment at 49.7 and inventories at 50.8. Durable-goods manufacturers are slowly losing jobs, but compared to pre-recession levels, the state’s heavy-manufacturing sector has remained at approximately the same job level. The statistics bureau said average weekly wages for all North Dakota workers grown by 3.6 percent over the past year.

Oklahoma: The overall Oklahoma index increased to 53.7 in February, compared with 52.0 in January. Components of the index were new orders at 58.3, production or sales at 55.1, delivery lead time at 42.9, inventories at 62.1 and employment at 50.4. Durable-goods manufacturers are adding jobs “at a healthy pace,” Goss said. “However, even with recent gains, compared to pre-recession levels, the state’s heavy-manufacturing sector has lost almost 5,000 jobs,” he said. Average weekly wages for all Oklahoma workers have grown by 1.7 percent over the past year, according to the statistics bureau.

South Dakota: South Dakota’s overall index climbed to 63.3 last month from 61.2 in January. Components of the overall index were new orders at 66.0, production or sales at 78.7, delivery lead time at 66.1, inventories at 58.7 and employment at 47.1. “Manufacturers in the state continue to add jobs at a healthy pace. As a result of gains in the second half of 2014, compared to pre-recession levels, South Dakota has added more than 1,000 jobs.” Goss said. Average weekly earnings for all South Dakota workers have risen by 1.6 percent over the last year, according to the statistics bureau.

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Online:

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