Missouri experienced an increase in manufacturing growth last month as the rest of the Midwest saw a slowdown in manufacturing growth.
In an index of regional manufacturing activity compiled by economists at Creighton University, Missouri’s index in February was 52.1, up from 51.2 in January. Meanwhile, the manufacturing index across the nine-state region Missouri is part of fell from 53.2 in January to 53.1 in February. Readings above 50 show an expanding pace of manufacturing activity. Readings below 50 show contraction.
Future growth may be stunted by the federal spending cuts that begin today due to sequestration. More than one-third of the businesses contacted in the survey said that their production and growth would be impacted by the government cuts.