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Midwest, Plains Economic Index Declines From June

1 min read

OMAHA, Neb. – Conductors of a monthly survey of business leaders in nine Midwest and Plains states say the region’s economy will grow in the coming months, despite a fourth month of decline in the survey’s overall index.

The overall economic index for the region declined to 53.5 in July from June’s 55.6, but any score above 50 suggests growth.

Creighton University economist Ernie Goss oversees the survey. He says the regional economy will continue to add jobs, but at a slow pace.

The survey of business leaders and supply managers uses a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests growth, while a score below that suggests decline.

The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

For Arkansas

In Arkansas, the overall index expanded slightly to 52.9 from 52.6 in June. Components of the index were new orders at 30.9, production or sales at 47.4, delivery lead time at 57.7, inventories at 58.3, and employment at 60.4.

“Arkansas’ labor market has been the weakest in the region over the past year and the only state in the region to experience a decline in the number of workers in the labor force,” Goss said. “Nondurable manufacturing firms reported job cuts while durable goods producers and non-manufacturing firms in the state added jobs.”

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