Economist: Exports aiding Midwest economic growth
June 1st, 2011 by Ric Hanson
OMAHA, Neb. (AP) – A survey in nine Midwestern and Plains states suggests that exports are helping fuel regional economic growth. A report released Wednesday says the Business Conditions Index for the Mid-America region rose in May, to 60.2 from 57.7 in April. Creighton University economist Ernie Gross oversees the survey.
He says that although higher commodity prices have hampered the regional economy, exports are making “a significant contribution to growth.” The survey of supply managers and executives and the report use a collection of indexes ranging from zero to 100. Organizers say any score above 50 suggests economic growth in the next three to six months, while a score below 50 suggests a contracting economy.
States in the survey are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.