July Survey Suggests Economic Slowdown For Midwest
A July survey suggests there will be slow to no economic growth over the next three to six months in nine Midwest and Plains states.
A survey report issued Monday says the overall Mid-America Business Conditions Index slumped to 50.6 in July from 53.0 in June.
Creighton University economist Ernie Goss oversees the survey, and he says businesses tied to agriculture and energy "continue to report pullbacks in economic activity, and this is spilling over into the broader regional economy."
The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests economic growth, while a score below that suggests decline.
The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.