Survey shows sluggish Midwest, Plains economy
September 1st, 2011 by Ric Hanson
OMAHA, Neb. (AP) – An economist says an August economic survey in nine Midwest and Plains states suggests slow to no growth in the region, but not a return to recession. The survey report released today (Thursday), says the Business Conditions Index (BCI) dropped to 52 in August from 54.1 in July. Creighton University economist Ernie Goss oversees the report.
He says that despite healthy economic growth tied to agriculture, the region is being harmed by cuts in business, consumer and local governmental spending. The survey of supply managers and executives uses a collection of indexes ranging from zero to 100. Any score above 50 suggests growth while a score below 50 suggests decline for that factor. The states are Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.