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