ACROSS MISSIISSIPPI — Manufacturing activity in the Southeast dropped slightly for June, tightening the gap between the region and the national index, according to the Southeast Purchasing Managers Index (PMI) report released today by Kennesaw State University’s Econometric Center in the Michael J. Coles College of Business.
According to the report, the national index jumped nearly two points in June to 50.9, while the Southeast index fell slightly by 0.3 points to 52.9. The six Southeastern states were split with Georgia, Alabama and Mississippi decreasing and Florida, Tennessee and Louisiana increasing.
Four of the six states — Florida, Georgia, Louisiana, Tennessee — recorded an index above 50, which is consistent with manufacturing growth. Florida recorded the highest index at 63.3 for the Southeastern states and Mississippi recorded the lowest at 45.7.
Highlights of the May Southeast PMI include:
- New orders increased 5.5 points to 58.9 based on increases for Florida, Georgia, Tennessee and Louisiana
- Production increased 1.2 points to 56.3 based on increases for all states except Alabama
- Employment decreased 3.9 points to 56.3 based on decreases for all states except Louisiana
- Supplier delivery time decreased 0.8 of a point to 50 based on decreases for all states except Alabama Finished inventory decreased 3.8 points to 42.9 based on declines for all six states
- Commodity prices decreased 1.9 points to 45.5 based on price decreases for Florida, Georgia and Tennessee