Survey suggests Midwest economic growth slowing

News

July 1st, 2011 by Ric Hanson

OMAHA, Neb. (AP) – A survey of nine Midwestern and Plains suggests that higher energy prices and supply problems are slowing economic growth. A report released today (Friday), says the Business Conditions Index for the Mid-America region dropped in June, to 54.9 from 60.2 in May.

Creighton University economist Ernie Goss says higher energy prices and supply problems stemming from the Japanese tsunami and Midwest and Plains flooding have slowed economic growth. The survey of supply managers and executives and the report use a collection of indexes ranging from zero to 100.

Survey 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.