By The Associated Press
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 state-by-state results for May:
Nebraska: For the 18th straight month, Nebraska’s overall index remained above growth neutral 50.0, though it sank to 51.1 in May from April’s 54.6. Components of the index were new orders at 51.7, production or sales at 53.6, delivery lead time at 52.5, inventories at 48.9 and employment at 49.0. “Nebraska manufacturing has weakened and will continue to weaken as a result of weaker farm income and a higher value of the U.S. dollar,” Goss said. “Unless the U.S. dollar weakens dramatically in the months ahead, the Nebraska economy is slated for slow growth through the third quarter of 2015,” he said.
South Dakota: South Dakota’s overall index has been above growth neutral 50.0 since December 2012. It dipped slightly last month but still registered a regional high of 54.1, compared with 54.2 in April. Components of the overall index were new orders at 54.7, production or sales at 56.7, delivery lead time at 55.6, inventories at 51.7 and employment at 51.8. “Manufacturing firms in the state are expanding at a solid pace. This has spilled over to other industries in the state, such as wholesale trade,” Goss said.