Survey: Manufacturing outlook mostly pessimistic

[ad_1]

Central states ranging from Minnesota to Arkansas have lost 4,900 manufacturing jobs since the start of the year, including a loss of 1,700 jobs in Oklahoma, a regional survey said.

For the fifth time in 2024, the Creighton University Mid-America Business Conditions Index, a leading economic indicator for a nine-state region, slumped below the 50.0 growth neutral threshold in September.

The Creighton index, which uses an identical methodology as the national Institute for Supply Management and ranges between 0 and 100 — with 50.0 representing growth neutral — declined to 48.1 in September from 48.7 in August. It represents the ninth time in 2024 that the index has drifted around growth neutral.

“The overall index, much like the U.S. reading, has vacillated around growth neutral since December of 2023. Additionally, supply managers remained concerned about inflationary pressures, with an average 6.2% growth in input prices expected over the next year,” said Ernie Goss, director of Creighton’s Economic Forecasting Group.

People are also reading…

The Mid-America report is produced independently of the national ISM.

Supply managers, asked to identify the top economic challenges over the next six months for their firm, 39.1% named higher inflation; 21.7% reported supply chain disruptions; 13.0% listed higher interest rates; 8.7% noted China trade skirmishes; and the remaining 17.5% named other issues.

Employment: After climbing to growth-neutral for December, the employment gauge has tumbled below 50.0 for the past nine months.

The September employment index sank to 44.3 from 45.2 in August. Despite falling manufacturing employment, almost 18% reported a shortage of workers in the September survey.

The survey did not indicate specific reasons for the losses in manufacturing jobs, either regionally nor locally.

U.S. Bureau of Labor Statistics data show that seasonally adjusted regional manufacturing employment fell by 4,900 jobs (0.3%) in 2024 thus far.

Oklahoma: The state’s Business Conditions Index sank to 45.7 from August’s 48.0. Components of the overall September index were: new orders at 41.5; production or sales at 37.8; delivery lead time at 54.8; inventories at 50.9; and employment at 44.7. According to the latest U.S. Bureau of Labor Statistics seasonally adjusted manufacturing data, Oklahoma lost 1,700 manufacturing jobs, or minus 1.8%, thus far in 2024.

Anonymous September comments in the Creighton University survey from supply managers included:

“Finding people to work is not difficult but keeping them busy is tough at times.”“My gut feeling is that we will continue to see manufacturing contraction, which will reduce supply input costs and somewhat reduce the tight labor market.”“Inflation is the hidden tax that has DRAMTICALLY disrupted business and personal finances.”“From a labor perspective, the USA STOPPED all programs to both teach and RESPECT hands-on labor.”“We are forecasting a flat end of year, with a potential for growth in the first and second quarter of 2025.” Goss said confidence is not high among regional supply managers.

“Looking ahead six months, economic optimism ... slumped to 26.2 (in September) from 26.7 in August,” he said.

“Approximately 62% of supply managers expect a recession or worsening business conditions over the next six months,” Goss said.

The Tulsa World is where your story lives

The Tulsa World newsroom is committed to covering this community with curiosity, tenacity and depth. Our passion for telling the story of Tulsa remains unwavering. Because your story is our story. Thank you to our subscribers who support local journalism. Join them with limited-time offers at tulsaworld.com/story.

The business news you need Get the latest local business news delivered FREE to your inbox weekly.

[ad_1]

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=670ba873b7ef4b8797857e528a694c64&url=https%3A%2F%2Ftulsaworld.com%2Fnews%2Flocal%2Fbusiness%2F4-900-manufacturing-jobs-gone-in-nine-central-states-since-the-start-of-the-year%2Farticle_4e9fe334-85ab-11ef-8cca-6f9a6937b2fb.html&c=8518598883814813277&mkt=en-us Author : Publish date : 2024-10-12 22:45:00 Copyright for syndicated content belongs to the linked Source .

April 2025
M	T	W	T	F	S	S
	1	2	3	4	5	6
7	8	9	10	11	12	13
14	15	16	17	18	19	20
21	22	23	24	25	26	27
28	29	30

Survey: Manufacturing outlook mostly pessimistic

Donald Trump’s Rally in California: Here’s What Happened

Christie owes America a debt for helping Trump. Time to pay up. | Moran

Christie owes America a debt for helping Trump. Time to pay up. | Moran

EIA forecasts Alaska crude oil production will grow in 2026 for the first time since 2017 – U.S. Energy Information Administration (EIA) (.gov)

Nestlé Expands U.S. Manufacturing Network with Beverage Factory, Distribution Center in Arizona – Nestlé USA

A fight for abortion rights in America’s most pro-life state could ripple across the South – USA Today

Map shows measles cases across U.S. – CBS News

Biden-Harris Administration Puts Colorado River on Path to Success – U.S. Department of the Interior (.gov)

Today in History: American flag raised in Puerto Rico – Chicago Tribune

St Kitts and Nevis media guide – BBC

Saint Lucia Jazz Festival Showcasing Female Musicians in Jazz – Nearshore Americas

127 Vincentians on U.S ICE list for deportation – St Vincent Times

Aruba Airport Reports Positive Growth in January 2025 Passenger Traffic – Routes

Categories

Archives