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Midwest economy: December state-by-state glance | KTIC Radio

Midwest economy: December state-by-state glance

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 December:

Arkansas: The state’s overall index fell to 50.5 last month from November’s 53.9. Index components were new orders at 51.8, production or sales at 50.7, delivery lead time at 62.0, inventories at 42.7 and employment at 45.3. Arkansas’ job market has been the weakest in the nine-state region over the past year, Goss said. “For 2019, I expect that the leading industry in Arkansas will be outside of manufacturing and in business services and the lagging industry to be natural gas drillers,” he said.

Iowa: Iowa’s overall index rose to 53.5 in December from 52.8 in November. Index components were new orders at 52.4, production or sales at 51.5, delivery lead time at 63.0, employment at 52.4 and inventories at 48.3. Iowa’s job market has been the strongest in the nine-state region over the past year, Goss said. “For 2019, I expect that the leading industry for Iowa will be metal producers and the lagging industry to be slaughterhouses,” he said.

Kansas: The state’s overall index sank below growth neutral, hitting 49.7 last month compared with 51.6 in November. Index components were new orders at 51.2, production or sales at 49.9, delivery lead time at 61.0, employment at 44.6 and inventories at 42.0. Kansas’ job market has been strong and improving over the past year, Goss said. “For 2019, I expect that the leading industry for Kansas will be the aircraft and aircraft parts industry. This industry, however, will count on an improving trade picture,” he said. The state’s 2019 lagging industry is expected to be slaughterhouses.

Minnesota: Minnesota’s overall index climbed to 55.5 in December from 53.9 in November. Index components were new orders at 57.2, production or sales at 52.5, delivery lead time at 70.3, inventories at 44.2 and employment at 53.4. Minnesota’s job market has been very healthy and improving over the past 12 months, Goss said. “For 2019, I expect that the leading industry for Minnesota will be manufacturers of medical equipment and supplies. I expect the state’s 2019 lagging industry to be transportation equipment producers,” he said.

Missouri: The state’s overall index declined to 53.9 from 54.7 in November. Index components were new orders at 54.6, production or sales at 54.4, delivery lead time at 66.5, inventories at 45.8 and employment at 48.1. Missouri’s job market has been very healthy and improving over the past year, Goss said. “For 2019, I expect that the leading industry for Missouri will be transportation equipment manufacturers, excluding vehicle producers. I expect the state’s 2019 lagging industry to be motor vehicle manufacturers,” he said.

Nebraska: Nebraska’s overall index dipped below growth neutral to 49.7 in December from November’s 51.3. Index components were new orders at 51.3, production or sales at 50.1, delivery lead time at 61.2, inventories at 42.2 and employment at 44.8. Nebraska’s job market has been healthy and stable over the past year, Goss said. “For 2019, I expect that the leading industry for Nebraska will be machinery manufacturing, depending on (the) Chinese trade deal. I expect the state’s 2019 lagging industry to be printing” and publishing.

North Dakota: The state’s overall index plunged 5 points to hit 52.6 last month, compared with 57.6 in November. Index components were new orders at 53.5, production or sales at 52.9, delivery lead time at 64.7, employment at 47.0 and inventories at 44.6. North Dakota’s job market has been solid and improving over the past 12 months, Goss said. He expects the state’s leading industry in 2019 will be machinery manufacturers, depending on the Chinese trade deal. “I expect the state’s 2019 lagging industry to be energy, including drilling and mining,” he said.

Oklahoma: Oklahoma’s overall index rose to 56.4 from 55.9 in November. Index components were new orders at 56.7, production or sales at 57.1, delivery lead time at 69.8, inventories at 48.1 and employment at 50.3. Oklahoma’s job market has been healthy and improving over the past year, Goss said. “For 2019, I expect that the leading industry for Oklahoma will be metal producers. I expect the state’s 2019 lagging industry to be energy, including drillers and mining,” he said.

South Dakota: The state’s overall index climbed to a regional high of 63.1 in December from November’s 55.6. Index components were new orders at 62.3, production or sales at 64.4, delivery lead time at 78.7, inventories at 54.2 and employment at 56.0. South Dakota’s job market has been healthy and improving rapidly over the past year, Goss said. “For 2019, I expect that the leading industry for South Dakota will be finance and banking. I expect the state’s 2019 lagging industry to be mining and drilling,” he said.

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