Manufacturing across nine Midwestern states – including Missouri and Kansas – jumped to its highest level in more than six years last month, according to a survey of companies’ purchasing managers.
The survey by Creighton University found confidence and continued optimism in the employment outlook.
An index generated from the survey results reached 62.3 in June, from 55.5 in May. Any reading above 50 indicates expansion in economic activity across the nine states. Readings below 50 show a contraction.
“The overall index over the past several months indicates a healthy regional manufacturing economy and points to healthy growth for both manufacturing and non-manufacturing into the fourth quarter of this year,” Ernie Goss, director of the university’s economic forecasting group, said in an announcement.
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Goss said that the Federal Reserve’s recent interest rate increase did nothing to dampen the business outlook across the nine states.
A national purchasing managers survey similarly found expanding manufacturing activity with an index of 54.9, up slightly from 54.8 in May. The Institute for Supply Management said its survey found that 15 of 18 manufacturing industries it surveyed reported expansion.
Creighton’s separate indexes for Kansas and Missouri also climbed. The Kansas index grew to 56.3 last month, from 53.9 in May. Missouri’s grew to 53.8 from 51.0 in May.