Econ survey shows Minn. growth continues
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Results from a July survey of business conditions in nine Midwestern and Plains states suggest a slowdown in growth.
Creighton University economics professor Ernie Goss says uncertainty about the national economy is among the factors hampering business expansion in the region.
The overall index for the Mid-America Business Conditions dropped only slightly, to 54.1 in July from 54.9 in June. But it was the fourth time in the past five months that the index dropped.
The survey of supply managers and executives and the report use a collection of indexes ranging from zero to 100. Any score above 50 suggests growth in an index while a score below 50 suggests that index will decline.
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Minnesota's leading economic indicator from the monthly survey of supply managers was above growth neutral for the 24th straight month at 57.5, up from 54.8 in June.
"Over the past three months, despite new entrants to the work force, healthy employment growth has stabilized the state's unemployment rate. Recent survey results point to positive job growth and a slight decline in Minnesota's unemployment rate for the next three months," said Goss.
The nine states are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.
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Online:
Creighton Economic Forecasting Group: http://www.outlook-economic.com
