IHS Examines ‘Show Me State’

""IHS Global Insight"":http://www.ihs.com/products/global-insight/index.aspx took a closer look at the ""Show Me State"" as part of its ongoing analysis of 12 swing states.

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According to the research firm, Missouri's housing market is proving to be a volatile one, with second quarter starts described as ""erratic,"" while home sales and the median sale price for single-family homes have gone up slightly. Also, falling prices are attracting buyers, which is helping to clear out inventory.

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However, IHS added, ""overall economic conditions have not been strong enough to create a stable recovery in the state's real estate market.""

The analysis noted data from the Bureau of Labor Statistics, which showed that instead of job gains, the state showed payrolls declines and lost more than 3,100 jobs in the second quarter of 2012.

With its August unemployment rate at 7.2 percent, Missouri still maintains an average that is below the national rate, but IHS said the state is still a long way off from its peak employment mark.

IHS anticipates ""tepid growth"" that is below the national average for employment, real gross state product, and real personal income throughout the year. The analysis also underscored the importance of consistent growth out of at least the manufacturing and professional and business services sectors throughout 2012.

""If these sectors decelerate, it will certainly slow the recovery process and may tip Missouri toward an employment contraction,"" the research firm stated.