OMAHA, Neb. – A new report suggests slow economic growth is ahead for nine Midwestern and Plains states.
The survey report issued Wednesday says the overall Mid-America Business Conditions Index dropped to 51.4 in March from 57 in February. The January figure was 54.8.
Creighton University economist Ernie Goss oversees the survey, and he says manufacturers of nondurable goods reported that sales, production and employment have weakened over the past several months.
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.
Arkansas’ overall index rose to a regional high of 54.9 from February’s 52.7. Components of the index were:
- new orders at 64.3
- production or sales at 44.7
- delivery lead time at 57.7
- inventories at 51.7
- employment at 56.0
“Arkansas’ dependence on international trade and exports is less than the rest of the nation and the region,” Goss said. “The rising value of the U.S. dollar, making U.S. goods less competitively priced abroad, presents less of an economic challenge for Arkansas than for the region and nation because the state’s chief trading partner is Canada, and the state’s No. 1 exported product is transportation equipment,” he said.
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