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Midwest economy: September state-by-state glance

October 1, 2018

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 September:

Arkansas: The September overall index for Arkansas sank to 52.5 from August’s 58.7. Components of the index were new orders at 56.2, production or sales at 53.7, delivery lead time at 52.2, inventories at 52.6, and employment at 52.9. Over the past year, according to U.S. Bureau of Labor Statistics data, Arkansas employers increased the hourly work week by 1 percent, well above the regional median, and average hourly pay by 1.8 percent, well below the regional median, Goss said.

Iowa: The September index for Iowa advanced slightly to a healthy 59.4 from 59.2 in August. Components of the overall index were new orders at 67.2, production or sales at 58.3, delivery lead time at 54.9, employment at 59.9, and inventories at 56.8. Over the past year, according to U.S. Bureau of Labor Statistics data, Iowa employers increased the hourly work week by 0.4 percent, equal to the regional median, and average hourly pay by 3.6 percent, well above the regional median, Goss said.

Kansas: The overall Kansas index for September fell to 56.9 from August’s 60.2. Components were new orders at 59.7, production or sales at 57.5 delivery lead time at 55.9, employment at 55.3, and inventories at 56.3. Over the past year, according to U.S. Bureau of Labor Statistics data, Kansas employers increased the hourly work week by 0.8 percent, well above the regional median, and average hourly pay by 4.3 percent, also well above the regional median, Goss said.

Minnesota: The overall index for Minnesota declined to a healthy 60 from August’s 61.9. Components of the overall September index were new orders at 61.8, production or sales at 60.5, delivery lead time at 58.8, inventories at 60.2, and employment at 58.8. Over the past year, according to U.S. Bureau of Labor Statistics data, Minnesota employers increased the hourly work week by 0.1 percent, well below the regional median, and average hourly pay by 2.5 percent, slightly below the regional median, Goss said.

Missouri: The overall index for Missouri decreased to 54.8 from 56.5 in August. Components of the overall index were new orders at 57.2, production or sales at 53.8, delivery lead time at 57.2, inventories at 52.6, and employment at 53.0. Over the past year, according to U.S. Bureau of Labor Statistics data, Missouri employers increased the hourly work week by 0.6 percent, slightly above the regional median, and average hourly pay by 3.0 percent, equal to the regional median, Goss said.

Nebraska: The overall index for Nebraska declined to 55.1 from August’s 61.9. Components of the index were new orders at 58.2, production or sales at 55.3, delivery lead time at 53.7, inventories at 54.1, and employment at 54.2. Over the past year, according to U.S. Bureau of Labor Statistics data, Nebraska employers decreased the hourly work week by 1.2 percent, well below the regional median, but increased average hourly pay by 2.7 percent, slightly below the regional median, Goss said.

North Dakota: The overall index for North Dakota fell to a very healthy 69.0 from 76.0 for August. Components of the overall index were new orders at 68.8, production or sales at 70.7, delivery lead time at 68.7, employment at 67.7, and inventories at 69.1. Over the past year, according to U.S. Bureau of Labor Statistics data, North Dakota employers increased the hourly work week by 1.3 percent, well above the regional median, and average hourly pay by 1.8 percent, also well below the regional median, Goss said.

Oklahoma: The overall index for Oklahoma has now remained above 50 for the last 14 months. The overall index declined to a solid 57.6 from August’s 60.4. Components of the overall index were new orders at 60.1, production or sales at 58.0, delivery lead time at 56.4, inventories at 56.7, and employment at 56.6. Over the past year, according to U.S. Bureau of Labor Statistics data, Oklahoma employers decreased the hourly work week by 0.2 percent, well below the regional median, but increased average hourly pay by 3.4 percent, which was above the regional median, Goss said.

South Dakota: The overall index for South Dakota sank to 50.4 from 55.6 for September. Components of the overall index were new orders at 54.6, production or sales at 50.1, delivery lead time at 48.7, inventories at 49.0, and employment at 49.7. “Over the past year, according to U.S. Bureau of Labor Statistics data, South Dakota employers increased the hourly work week by 0.4 percent, equal to the regional median, and average hourly pay by 4.1 percent, which was well above the regional median,” Goss said.

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