The June economic index for the Midwest and Plains survey dropped for the second month in a row. June’s index was 57.2 compared to May’s index of 57.6. Creighton University Economist Dr. Ernie Goss says the Midwest Region is feeling the impact of what is happening nationally and globally.
Dr. Goss is predicting weaker employment growth and weaker economic growth during the second half of 2012. He says wholesale prices have dropped dramatically due to a slowdown in global demand. He expects energy, oil and commodity prices will drop in the second half of 2012 because of what his happening globally.
Dr. Goss says the most troubling portion of the latest report is that export orders dropped significantly, below growth neutral. Dr. Goss says, “Our part of the county has been growing because of exports so that is again is reflective of what is going on in Europe, Asia, South America to some extent.”
The Midwest Region consists of Nebraska, Iowa, Arkansas, Minnesota, Kansas, Missouri, North Dakota, South Dakota and Oklahoma.