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Midwest, Plains Economic Index Rose in August

1 min read

OMAHA, Neb. – An economic index compiled from a survey of business leaders in nine Midwest and Plains states rose slightly last month, the first increase since March.

The Mid-America Business Conditions Index hit 53.8 in August, compared with 53.5 in July.

Creighton University economist Ernie Goss oversees the survey, and he says the results point to growth for the final quarter of this year but at about half the rate of the first quarter.

The survey results are compiled into 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.

Of Arkansas, the report put the overall index at 45.8 in August, down from 52.9 in July. Components of the index were:

  • new orders at 36.6
  • production or sales at 40.4
  • delivery lead time at 54.4
  • inventories at 45.8
  • employment at 51.8

Overall, Arkansas manufacturers reported reductions in business activity for the month, with expansions for durable-goods producers more than offset by nondurable-goods manufacturing losses. As the national unemployment rate has declined for 2013, Arkansas’ jobless rate has risen. But, said Goss, “Based on our survey results, the state’s unemployment rate will change little in the months ahead.”

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, rewritten, broadcast or distributed.)

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