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April Economic Report Suggests Slow Growth Ahead in Midwest

1 min read

OMAHA, Neb. – A new monthly survey report says April results suggest that slow economic growth remains ahead for nine Midwestern and Plains states.

The survey report issued Friday says the overall Mid-America Business Conditions Index rose to 52.7 from 51.4 in March.

Creighton University economist Ernie Goss oversees the survey, and he says rising economic expectations from nonenergy firms, resulting from lower energy prices, “more than offset economic pessimism stemming from weakness in firms directly tied to energy.”

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.

The survey put Arkansas’ overall index at 53.6, down from March’s regional high of 54.9. Components of the index were:

  • new orders at 55.2
  • production or sales at 58.2
  • delivery lead time at 55.6
  • inventories at 49.3
  • employment at 50.0

“The state’s exports have declined for 2013 and again for 2014 to $6.9 billion. The strong U.S. dollar will push 2015 exports even lower,” Goss said. “Durable-goods manufacturers have been experiencing much stronger economic conditions than nondurable-goods producers in the state.”

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