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(Neb)-Mid-America Region Has "Goldilocks Economy"  Listen

By: John Axtell Posted at: 09/05/2017 02:16 PM
OMAHA, Neb. (AP) - Creighton University's latest monthly survey of business supply managers in 9 Midwest and Plains states, including Nebraska and South Dakota, shows a regional economy that continues to grow at a steady, if somewhat slow, pace.

    Creighton economist and survey head Ernie Goss says the overall index rose 1.4 points in August to 57.5, putting it solidly above the growth-neutral point of 50 and pointing to solid growth for the rest of the year. He uses a fairy tale term to describe what he sees as an economy going in the right direction.

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Goss says the job picture is also looking solid as the employment index increased 2.7-points to 59.2.

    The regional wholesale inflation gauge rose 3.5-points to 65.5 after 2 months of decline, but Goss says that's still very modest and helped put the supply managers in a positive state of mind. The confidence index, how they see things 6 months from now, went up 2.3 points to a strong 62.5.

     The survey offers numbers for each of the 9 states as well as the region and Nebraska's overall index dropped, but only a tenth of a point to a still sold 57.9. Goss says both the manufacturing and non-manufacturing segments of the economy are adding jobs at a good rate and he's confident that will continue for the rest of the year.

     South Dakota's overall index dropped below growth-neutral, falling 7.8-points to 45.5 as sales or production, new orders, inventories, and employment all failed to hit 50. Goss says job growth for non-manufacturing businesses is almost nil with the surveys of the past several months indicating the sluggish trend will continue for the remainder of the year.


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