|By Marketwired .||
|August 14, 2014 10:00 AM EDT||
ST. LOUIS, MO -- (Marketwired) -- 08/14/14 --
- Investment in the auto sector continues
- Payroll growth broad based, although jobless rate is edging higher
- Housing starts had a volatile winter but now at best level in seven years
The Missouri economy continues to grow at a modest pace, according to the bi-annual U.S. State Monitor Report from BMO Economics. While real GDP only expanded 0.8 percent in 2013, growth is expected to improve to 1.8 percent in 2014 and 2.4 percent in 2015.
"While all our indicators may not be where we'd like, there has been a lot of progress made that will bolster our whole economy," said David Warning, Managing Director, Commercial Banking, St. Louis, BMO Harris Bank. "The fact that growth is expected to improve shows that business owners are taking the right steps."
Employment continues to expand at a solid clip, and is near pre-recession levels. Nonfarm payrolls were up 1.6 percent year-over-year in the second quarter of 2014. The gains are led by manufacturing and a number of service industries including leisure & hospitality, professional services and finance.
Despite solid job growth, the unemployment rate edged up to 6.5 percent in June, or 0.5 percentage points higher than at the end of 2013. The rate is now again above the national average after outperforming during the downturn and early stages of the recovery.
"This largely reflects a pickup in labor force growth and a stable participation rate since mid-2012, a period over which the national rate has fallen and helped pull the jobless rate down," said Robert Kavcic, Senior Economist, BMO Capital Markets. "Still, with below-average growth in hours worked and earnings, the overall labor market picture in Missouri is slightly below the median across all the states."
The Missouri housing market performed much better than some states during the housing bubble. As a result, the downturn was far less severe as prices fell a relatively modest 10 percent peak-to-trough according to the FHFA (Federal Housing Finance Agency) index -- compared to 18 percent nationally. Consequently, prices are now rising at a less robust pace than in some other harder-hit states. Housing starts had a volatile winter, but have since risen to the best level in seven years.
Real agricultural output rebounded nearly 18 percent in 2013 after the worst drought in about half a century crippled output in 2012. This year, the harsh winter delayed spring planting in much of the Midwest, but many crops have caught up to five-year averages.
In the auto sector, recent announcements have been positive with Ford expanding in Kansas City and GM increasing investment at its Wentzville plant.
To view a full copy of the report, visit www.bmocm.com/economics.
About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank or credit approval. BMO Harris Bank® is a trade name used by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and CDN $582 billion in assets (as of April 30, 2014).
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Apr. 28, 2017 05:45 PM EDT Reads: 839
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 28, 2017 05:15 PM EDT Reads: 804
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Apr. 28, 2017 05:00 PM EDT Reads: 254
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 28, 2017 04:30 PM EDT Reads: 869
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 28, 2017 04:15 PM EDT Reads: 1,365
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 28, 2017 04:00 PM EDT Reads: 1,384
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Apr. 28, 2017 03:45 PM EDT Reads: 2,371
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Apr. 28, 2017 03:30 PM EDT Reads: 1,472
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 28, 2017 02:30 PM EDT Reads: 924
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Apr. 28, 2017 02:30 PM EDT Reads: 3,248
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 28, 2017 02:30 PM EDT Reads: 5,007
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Apr. 28, 2017 02:15 PM EDT Reads: 2,528
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 28, 2017 02:15 PM EDT Reads: 1,162
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
Apr. 28, 2017 02:00 PM EDT Reads: 1,896
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 28, 2017 01:30 PM EDT Reads: 1,690