Midwest manufacturing index increases first time since May - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Midwest manufacturing index increases first time since May

Updated:
OMAHA, Neb. (AP) _ Oklahoma's overall score on a midwest business index declined in September for the fifth straight month.

The state's score on the Mid-America Business Conditions Index was 54.8 in September, down from 55.2 in August.

Readings above 50 mean the manufacturing sector is expanding, while a figure below 50 represents a contraction. The national index has been above 50 since June 2003.

``While we are tracking pullbacks in the states growth, readings from the survey indicate that Oklahoma's economy will continue to expand well into 2005, albeit at a slower pace,'' said Ernie Goss, an economist at Creighton University who conducts the survey.

Components of Oklahoma's overall index last month were new orders at 55, production at 55.1, delivery speed at 50, inventories at 60 and employment at 54.2.

Across the region, Midwest manufacturing grew in September despite higher prices.

The region's overall index increased in September to 63.9 from August's 61.3. September's upturn was the index's first advance since a relative slowing that began in June.

A similar, national index also showed growth, though at a more gradual pace than in August. The Institute for Supply Management said that its manufacturing index registered 58.5 in September, down from 59 in the previous month, and slightly higher than the 58.3 reading forecast by analysts.

Readings above 50 mean the manufacturing sector is expanding, while a figure below 50 represents a contraction. The national index has been above 50 since June 2003.
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