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Economic Survey Suggests Optimism for Midwest

1 min read

OMAHA, Neb. — A monthly economic report suggests supply managers surveyed in nine Midwestern and Plains states are optimistic about the regional economy over the next six months.

The confidence index for the Mid-America Business Conditions Index jumped to 66.5 last month from 57.2 in November. However, the overall index rose just 2 points, to 53.2 from 51.2 in November.

Creighton University economist Ernie Goss oversees the survey, and he says businesses tied to agriculture continue to report softer economic conditions.

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.

The overall index for Arkansas rose to 53.9 from 51.1 in November. Components of the index were new orders at 51.8, production or sales at 48.5, delivery lead time at 50.3, inventories at 61.5 and employment at 57.4.

“Durable-goods manufacturers and business services firms ended the year on a high note,” Goss said of Arkansas’ economy. “Construction activity is picking up. On the other hand, nondurable-goods producers continue to shed jobs,” he said.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, rewritten, broadcast or distributed.)

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