Archive for Wednesday, April 1, 2015

Midwest economy: state of Kansas report for March

April 1, 2015

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 results for Kansas for March:

The state's overall index sank in March to 50.7 from 52.7 in February. Components of the index were new orders at 59.4, production or sales at 41.3, delivery lead time at 53.3, employment at 51.8 and inventories at 47.7. The state's dependence on international trade and exports is lower than that of the nation but greater than the region's, Goss said, and the state's export growth since 2009 has lagged that of the U.S. and region. Thus, the rising value of the U.S. dollar "represents a moderate economic challenge for the Kansas economy going forward," he said.

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