Survey Shows Little or No Midwest Economic Expansion
A new report says an August survey of business supply managers suggests slow or no economic growth over the next several months in nine Midwest and Plains states.
The report issued Tuesday says the Mid-America Business Conditions index dropped below growth neutral in August, hitting 49.3 compared with 52.0 in July. The index had remained above growth neutral for 32 straight months.
Creighton University economist Ernie Goss oversees the survey, and he blamed the slowdown on weak farm and manufacturing sectors, produced in part by tariffs and a global economic slowdown.
The survey results are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth. A score below that suggests decline.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.