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Midwest Economy is Holding Steady in Positive Territory

Doctor Ernie Goss
KWGS News/You-Tube
Doctor Ernie Goss

The June Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Arkansas to North Dakota, fell to a healthy level continuing to point to strong growth for the next three to six months. The data is compiled by Dr. Ernie Goss.

Overall index: The Business Conditions Index, which ranges between 0 and 100, declined to 61.8 from May’s 67.3. This is the 19th straight month the index has remained above growth neutral 50.0.       

Oklahoma: Oklahoma’s Business Conditions Index has now remained above the 50.0 threshold for the last 11 months. The overall index from a monthly survey of supply managers fell to 61.1 from May’s 68.5. Components of the overall June index were new orders at 63.8, production or sales at 64.4, delivery lead time at 58.6, inventories at 57.8, and employment at 60.8. “Over the past 12 months, the Oklahoma economy added 5,000 durable goods manufacturing jobs for a growth of 5.7 percent, but lost 1,500 nondurable manufacturing jobs for a growth of minus 3.3 percent. Oklahoma ranked fifth among the nine states in the region in terms of the rate of overall manufacturing growth over the past 12 months,” said Goss