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 is a look at the four-state area results for May:
Oklahoma: The state's dropped to 55.6 in May from April's 59.8. Components of the index were new orders at 53.3, production or sales at 56.7, delivery lead time at 41.6, inventories at 71.0 and employment at 55.4. "As a result of very healthy growth among Oklahoma manufacturers, the average hourly wage rate rose by 6.2 percent over the past year, or well above both the U.S. and regional averages. Growth continues to be much stronger among durable-goods producers than nondurable-goods manufacturers such as food processors," said Goss.
Arkansas: The state's overall index for May dipped to 55.1 from 56.9 in April. Components of the index were new orders at 43.1, production or sales at 56.1, delivery lead time at 51.6, inventories at 66.7 and employment at 58.2. "Nondurable-goods producers in the state continue to shed jobs. However, durable-goods manufacturers' growth more than offset this weakness," Goss said. "Despite the national turnaround in construction, Arkansas builders have yet to begin any significant expansion," he said.
Missouri: The state's overall index climbed to 54.6, compared with 52.8 in April. Components of the May survey were new orders at 54.3, production or sales at 57.7, delivery lead time at 52.6, inventories at 48.5 and employment at 59.8. "Durable-goods manufacturers, excluding vehicle manufacturers, added workers for the month. Nondurable-goods manufacturing, including food processors, continue to experience slow to no growth," Goss said.
Kansas: The Kansas index for May rose to 53.1 from 52.3 in April. Index components were new orders at 67.2, production or sales at 60.1, delivery lead time at 45.1, employment at 55.0 and inventories at 38.3. "Durable-goods manufacturers in Kansas, especially aircraft and aircraft parts producers, are experiencing healthy growth. Nondurable-goods manufacturers are also benefiting from an expanding economy, but at a somewhat slower pace than their heavy manufacturing counterparts," Goss said.
Creighton Economic Forecasting Group: http: //www.outlook-economic.com