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Midwest Economy: May state-by-state glance

June 1, 2020 GMT

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. A figure below 50 indicates decline.

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Here are the state-by-state results for May:

Arkansas: The state’s overall index rose to 43.7 from April’s 35.1. Components of the index were: new orders at 32.8, production or sales at 34.1, delivery lead time at 60.9, inventories at 49.6, and employment at 41.1. Goss said the state’s unemployment rate jumped from 4.9% in March to 10.3% in April. The state lost 102,000 jobs in this period.

Iowa: The overall index for Iowa remained in negative territory at 41.9 in May but it improved from 34.4 in April. Components of the index were: new orders at 31.1, production. or sales at 34.5, delivery lead time at 57.6, employment at 39, and inventories at 47.1. Goss said the state’s unemployment rate increased from 3.6% in March to 10.7% in April. The state lost 177,000 jobs in this month during the coronavirus outbreak.

Kansas: The state’s overall index increased to 42.8 in May from April’s 36.3. Components of the index were: new orders at 32.7, production or sales at 30.1, delivery lead time at 60.7, employment at 41, and inventories at 49.5. Goss said the state’s unemployment rate jumped from 2.9% in March to 11.6% in April. The state lost 130,000 jobs in this period.

Minnesota: The overall index for Minnesota increased to 39.8 in May from 34.8 in April. Components of the overall index were: new orders at 27.1, production or sales at 34.6, delivery lead time at 56.7, inventories at 42.3, and employment at 38.5. Goss said the state’s unemployment rate soared from 3.5% in March to 8.6% in April. The state lost 360,000 jobs during that month.

Missouri: The state’s overall index climbed to 42.3 in May from 35.1 in April. Components of the overall index were: new orders at 31.5, production or sales at 34.4, delivery lead time at 58.5, inventories at 47.8, and employment at 39.5. Goss said the state’s unemployment rate jumped from 3.9% in March to 9.8% in April. The state lost 305,000 jobs in that month.

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Nebraska: The state’s overall index for May rose to 43.9 from 36 in April. Components of the index were: new orders at 32.9, production or sales at 34.1, delivery lead time at 61.2, inventories at 49.9, and employment at 41.3. Goss said the state’s unemployment rate increased from 4.2% in March to 8.6% in April. The state lost 86,000 jobs in that period during the coronavirus outbreak.

North Dakota: The overall index for North Dakota climbed to 43.4 in May from 35.8 in April. Components of the overall index were: new orders at 32.5, production or sales at 34.2, delivery lead time at 60.3, employment at 40.7, and inventories at 49.2. Goss said the state’s unemployment rate jumped from 2.7% in March to 9.2% in April. The state lost 43,000 jobs in that time.

Oklahoma: The state’s overall index improved to 43 in May from April’s 34.2. Components of the overall May index were: new orders at 32.1, production or sales at 34.3, delivery lead time at 59.7, inventories at 48.7, and employment at 40.3. Goss said the state’s unemployment rate soared from 3% in March to 14.3% in April. The state lost 131,000 jobs in that month.

South Dakota: The overall index for South Dakota increased to 43.8 in May from April’s 35.9. Components of the overall index were: new orders at 32.9, production or sales at 34.1, delivery lead time at 61.2, inventories at 49.9, and employment at 41.3. Goss said the state’

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