For the fourth time in the past five months, the monthly Mid-American Business Conditions Index remained below growth neutral. Creighton University Economist Dr. Ernie Goss conducts the monthly Business Conditions Index and says November numbers came in at 48.0 from 46.5 in October. Dr. Goss says the index continues to point to slightly negative growth for the region in the next three to six months.
Dr. Goss says the region’s employment gauge moved slightly above growth neutral for November. The index increased to 50.5 in November from a much weaker 47.7 in October. Dr. Goss stated, “nondurable goods producers are experiencing job losses while durable goods manufacturers are expanding their job levels, but at a slow pace.” The November report shows 30% of supply managers expect no pay raises next year and on average they project a 1.4% wage gain for the next year.
The nine states in the Mid-American Index include Nebraska, Iowa, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma and South Dakota.